Nazareth Home Inc

Analysis

Nazareth Home Inc is a registered charity in United States, based in Louisville, KY. It received its IRS tax-exemption ruling in March 1946, 80 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 August 2023, Nazareth Home Inc reported income of $35.1m and spending of $32.8m, spending 94% of its income. Across the 4 years on record, from August 2020 to August 2023, income grew from $25.6m to $35.1m (+37%), an average of +11% a year. The sharpest change came in the year to August 2021, when income rose by 15%. Over the whole period it spent 97% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Nazareth Home Inc sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within KY. Charities of a similar size with the same main cause include Nysarc Inc ($35.1m), Allen-Stevenson School ($35.1m) and The Whole Person Inc ($35.0m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 12% and program service revenue 87% of the total. Compensation of current officers, directors and key employees was $429k (1.3% of expenses). Other salaries and wages came to $17.1m. At year end it held assets of $12.0m against liabilities of $5.5m, net assets of $6.5m. It reported 551 employees.