Christian Retirement Services Inc Oaknoll Retirement Residence

Analysis

Christian Retirement Services Inc Oaknoll Retirement Residence is a registered charity in United States, based in Iowa City, IA. It received its IRS tax-exemption ruling in September 1966, 60 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 June 2023, Christian Retirement Services Inc Oaknoll Retirement Residence reported income of $25.2m and spending of $24.1m, spending 96% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $17.4m to $25.2m (+45%), an average of +9.7% a year. The sharpest change came in the year to June 2021, when income rose by 17%. Over the whole period it spent 98% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Christian Retirement Services Inc Oaknoll Retirement Residence sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within IA. Charities of a similar size with the same main cause include Seven Hills Foundation Inc ($25.2m), Independence First Inc ($25.2m) and Life Bridges Inc ($25.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 2.2% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $420k (1.7% of expenses). Other salaries and wages came to $8.3m. At year end it held assets of $124.0m against liabilities of $125.2m, net assets of -$1.2m. It reported 412 employees.