Shoreview Senior Residence

Analysis

Shoreview Senior Residence is a registered charity in United States, based in Richfield, MN. It received its IRS tax-exemption ruling in January 1996, 30 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 September 2023, Shoreview Senior Residence reported income of $2.3m and spending of $2.0m, spending 84% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $2.2m to $2.3m (+6.5%), an average of +1.6% a year. Over the whole period it spent 87% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Shoreview Senior Residence sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 86th percentile within MN. Charities of a similar size with the same main cause include Home Energy Efficiency Team Inc ($2.3m), Wisconsin Native Loan Fund Inc ($2.3m) and Habitat for Humanity of Goldsboro- Wayne Inc ($2.3m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 2.2% and program service revenue 98% of the total. Other salaries and wages came to $423k. At year end it held assets of $4.2m against liabilities of $4.7m, net assets of -$469k. It reported 18 employees.