Omega Residential

Analysis

Omega Residential is a registered charity in United States, based in Gadsden, AL. It received its IRS tax-exemption ruling in April 2015, 11 years ago. Its declared purposes cover mental health and crisis intervention, which this site groups under health and saving lives. 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, Omega Residential reported income of $2.1m and spending of $2.0m, spending 95% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $1.4m to $2.1m (+49%), an average of +10% a year. The sharpest change came in the year to September 2020, when income rose by 40%. Over the whole period it spent 89% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Omega Residential sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 90th percentile within AL. Charities of a similar size with the same main cause include GBMC Healthcare Inc ($2.1m), Five Points Foundation Inc ($2.1m) and Vail House Midland Inc ($2.1m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 0.1% and program service revenue 100% of the total. Other salaries and wages came to $1.2m. At year end it held assets of $1.7m against liabilities of $249k, net assets of $1.4m. It reported 86 employees.