Newport News Baptist Retirement Community Inc

Analysis

Newport News Baptist Retirement Community Inc is a registered charity in United States, based in Glen Allen, VA. It received its IRS tax-exemption ruling in January 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Newport News Baptist Retirement Community Inc reported income of $28.8m and spending of $30.3m, spending 105% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $23.8m to $28.8m (+21%), an average of +4.9% a year. Over the whole period it spent 106% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Newport News Baptist Retirement Community Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within VA. Charities of a similar size with the same main cause include Morselife Housing Corporation Inc ($28.8m), Ncba Inc ($28.8m) and Community Living Inc ($28.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.6% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $218k (0.7% of expenses). Other salaries and wages came to $11.8m. At year end it held assets of $41.4m against liabilities of $115.2m, net assets of -$73.8m.

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.