Ebenezer Lakes Assisted Living

Analysis

Ebenezer Lakes Assisted Living is a registered charity in United States, based in Edina, MN. It received its IRS tax-exemption ruling in January 2002, 24 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, Ebenezer Lakes Assisted Living reported income of $7.0m and spending of $7.0m, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $5.3m to $7.0m (+34%), an average of +7.6% a year. The sharpest change came in the year to December 2023, when income rose by 20%. Over the whole period it spent 102% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Ebenezer Lakes Assisted Living sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 93rd percentile within MN. Charities of a similar size with the same main cause include Cedar Creek Retirement Home Inc ($7.0m), Rescue Ministries of Mid-Michigan ($7.0m) and Habitat for Humanity International Inc ($7.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 3.2% and program service revenue 94% of the total. Other salaries and wages came to $3.8m. At year end it held assets of $6.4m against liabilities of $9.8m, net assets of -$3.4m.