Gifford Retirement Community Inc

Analysis

Gifford Retirement Community Inc is a registered charity in United States, based in Randolph, VT. It received its IRS tax-exemption ruling in September 2014, 12 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 September 2023, Gifford Retirement Community Inc reported income of $6.4m and spending of $10.1m, spending 159% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $5.2m to $6.4m (+22%), an average of +5.0% a year. The sharpest change came in the year to September 2022, when income rose by 28%. Over the whole period it spent 145% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Gifford Retirement Community Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within VT. Charities of a similar size with the same main cause include Tioga Opportunities Inc ($6.4m), Richmond Development Corporation ($6.4m) and Habitat for Humanity International Inc ($6.4m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 3.3% and program service revenue 97% of the total. Other salaries and wages came to $4.0m. At year end it held assets of $10.7m against liabilities of $24.6m, net assets of -$13.9m. It reported 79 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.