Methodist Home for the Aging

Analysis

Methodist Home for the Aging is a registered charity in United States, based in Irondale, AL. It received its IRS tax-exemption ruling in November 1998, 28 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Methodist Home for the Aging reported income of $4.7m and spending of $4.3m, spending 91% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $7.0m to $4.7m (-32%), an average of -9.3% a year. The sharpest change came in the year to June 2020, when income dropped by 25%. Over the whole period it spent 83% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Methodist Home for the Aging sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 95th percentile within AL. Charities of a similar size with the same main cause include Stillwater Christian School ($4.7m), Southern Oregon Insurance Inc ($4.7m) and Southern Nevada Transit Coalition ($4.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.1% and program service revenue 95% of the total. Other salaries and wages came to $1.5m. At year end it held assets of $14.6m against liabilities of $6.9m, net assets of $7.7m. It reported 92 employees.