Methodist Retirement Communities

Analysis

Methodist Retirement Communities is a registered charity in United States, based in The Woodlands, TX. It received its IRS tax-exemption ruling in November 2016, 10 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, Methodist Retirement Communities reported income of $107.3m and spending of $125.6m, spending 117% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $78.2m to $107.3m (+37%), an average of +8.2% a year. Over the whole period it spent 120% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Methodist Retirement Communities sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 100th percentile within TX. Charities of a similar size with the same main cause include Rocky Mountain Health Care Services ($106.4m), Lutheran Social Services of Illinois ($107.4m) and St Marys Hospital of Superior ($106.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.9% and program service revenue 93% of the total. Other salaries and wages came to $36.5m. At year end it held assets of $400.2m against liabilities of $511.6m, net assets of -$111.4m. It reported 1,493 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.