Serenity Suites Senior Living at Wabasso

Analysis

Serenity Suites Senior Living at Wabasso is a registered charity in United States, based in Wabasso, MN. It received its IRS tax-exemption ruling in December 2019, 7 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, Serenity Suites Senior Living at Wabasso reported income of $1.0m and spending of $898k, spending 88% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $523k to $1.0m (+95%), an average of +18% a year. The sharpest change came in the year to December 2020, when income rose by 47%. Over the whole period it spent 111% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Serenity Suites Senior Living at Wabasso 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 79th percentile, and in the 79th percentile within MN. Charities of a similar size with the same main cause include Shields Housing Corporation ($1.0m), New Foundations Transitional Living ($1.0m) and Tcoa Elderly Housing Inc ($1.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.4% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $98k (11% of expenses). Other salaries and wages came to $310k. At year end it held assets of $1.8m against liabilities of $2.5m, net assets of -$655k. It reported 22 employees.