Clark Retirement Community Inc

Analysis

Clark Retirement Community Inc is a registered charity in United States, based in Grand Rapids, MI. It received its IRS tax-exemption ruling in August 1939, 87 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Clark Retirement Community Inc reported income of $24.0m and spending of $27.5m, spending 115% of what it took in. Across the 6 years on record, from April 2019 to December 2023, income grew from $19.8m to $24.0m (+21%), an average of +3.9% a year. The sharpest change came in the year to December 2022, when income rose by 21%. Over the whole period it spent 117% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Clark Retirement Community Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within MI. Charities of a similar size with the same main cause include Justliving Communities Corp ($23.9m), Orange County Rescue Mission Inc ($24.1m) and Three Links Health Services ($23.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.5% and program service revenue 91% of the total. Other salaries and wages came to $8.5m. At year end it held assets of $93.0m against liabilities of $92.0m, net assets of $1.0m. It reported 274 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.