Michigan Home for the Armenian Aged Inc

Analysis

Michigan Home for the Armenian Aged Inc is a registered charity in United States, based in Livonia, MI. It received its IRS tax-exemption ruling in May 1953, 73 years ago. 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, Michigan Home for the Armenian Aged Inc reported income of $2.5m and spending of $2.8m, spending 114% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.5m to $2.5m (-0.2%), an average of +-0.0% a year. The sharpest change came in the year to December 2022, when income dropped by 15%. Over the whole period it spent 114% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Michigan Home for the Armenian Aged Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 88th percentile within MI. Charities of a similar size with the same main cause include Alpha Omega Clinic and Consultation ($2.5m), Robbinsdale Womens Center ($2.5m) and Layton Boulevard West Neighbors Inc ($2.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.3% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $64k (2.3% of expenses). Other salaries and wages came to $1.4m. At year end it held assets of $4.3m against liabilities of $2.0m, net assets of $2.3m. It reported 82 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.