Meadowbrook Terrace Inc

Analysis

Meadowbrook Terrace Inc is a registered charity in United States, based in Carthage, NY. It received its IRS tax-exemption ruling in June 2012, 14 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, Meadowbrook Terrace Inc reported income of $1.8m and spending of $2.8m, spending 150% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.6m to $1.8m (+17%), an average of +4.1% a year. The sharpest change came in the year to December 2020, when income rose by 27%. Over the whole period it spent 135% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Meadowbrook Terrace Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 82nd percentile within NY. Charities of a similar size with the same main cause include Kane County Senior Living ($1.8m), Atlanta Childrens Shelter Inc ($1.8m) and Hosanna Heartland ($1.8m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. Compensation of current officers, directors and key employees was $134k (4.9% of expenses). Other salaries and wages came to $1.4m. At year end it held assets of $8.1m against liabilities of $2.9m, net assets of $5.2m.

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.