Larksfield Place Retirement Communities Inc

Analysis

Larksfield Place Retirement Communities Inc is a registered charity in United States, based in Wichita, KS. It received its IRS tax-exemption ruling in October 1985, 41 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 June 2023, Larksfield Place Retirement Communities Inc reported income of $24.1m and spending of $25.9m, spending 108% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $23.9m to $24.1m (+0.6%), an average of +0.1% a year. The sharpest change came in the year to June 2022, when income dropped by 17%. Over the whole period it spent 108% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Larksfield Place Retirement Communities Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within KS. Charities of a similar size with the same main cause include Elevate Charities ($24.0m), Action Pathways Inc ($24.1m) and Evergreen Retirement Community Inc ($24.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 1.3% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $357k (1.4% of expenses). Other salaries and wages came to $10.2m. At year end it held assets of $52.4m against liabilities of $79.2m, net assets of -$26.8m. It reported 373 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.