Assumption Home Inc

Analysis

Assumption Home Inc is a registered charity in United States, based in Cold Spring, MN. It received its IRS tax-exemption ruling in March 1946, 80 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Assumption Home Inc reported income of $13.6m and spending of $12.9m, spending 95% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $9.3m to $13.6m (+46%), an average of +10% a year. The sharpest change came in the year to December 2022, when income rose by 18%. Over the whole period it spent 93% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Assumption Home Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within MN. Charities of a similar size with the same main cause include Cedar Valley Hospice Inc ($13.6m), Rainbows United Inc ($13.6m) and Horizon Project ($13.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.1% and program service revenue 96% of the total. Compensation of current officers, directors and key employees was $374k (2.9% of expenses). Other salaries and wages came to $6.7m. At year end it held assets of $23.0m against liabilities of $14.9m, net assets of $8.1m. It reported 275 employees.