Evangelical Retirement Homes Inc

Analysis

Evangelical Retirement Homes Inc is a registered charity in United States, based in Edina, MN. It received its IRS tax-exemption ruling in May 1963, 63 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, Evangelical Retirement Homes Inc reported income of $11.1m and spending of $11.3m, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $8.9m to $11.1m (+25%), an average of +5.7% a year. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Evangelical Retirement Homes 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 95th percentile, and in the 95th percentile within MN. Charities of a similar size with the same main cause include Advantages of Southeast Arkansas Inc ($11.1m), Community Services for the Aging Inc ($11.1m) and Bethany Lutheran Health Services ($11.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 11% and program service revenue 91% of the total. Other salaries and wages came to $5.5m. At year end it held assets of $16.7m against liabilities of $15.6m, net assets of $1.0m. It reported 256 employees.