Sheridan Memorial Home Inc

Analysis

Sheridan Memorial Home Inc is a registered charity in United States, based in McClusky, ND. It received its IRS tax-exemption ruling in October 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 December 2023, Sheridan Memorial Home Inc reported income of $744k and spending of $784k, spending 105% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $466k to $744k (+60%), an average of +12% a year. The sharpest change came in the year to December 2022, when income rose by 34%. Over the whole period it spent 106% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Sheridan Memorial Home Inc sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 73rd percentile within ND. Charities of a similar size with the same main cause include Nami Mid-Ohio ($744k), World of Opportunity ($744k) and Companis Mission Workers Association ($744k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.1% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $85k (11% of expenses). Other salaries and wages came to $402k. At year end it held assets of $474k against liabilities of $553k, net assets of -$78k. It reported 24 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.