Lakewood Manor Baptist Retirement Community Inc

Analysis

Lakewood Manor Baptist Retirement Community Inc is a registered charity in United States, based in Glen Allen, VA. It received its IRS tax-exemption ruling in February 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 December 2023, Lakewood Manor Baptist Retirement Community Inc reported income of $42.8m and spending of $40.3m, spending 94% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $32.9m to $42.8m (+30%), an average of +6.8% a year. The sharpest change came in the year to December 2020, when income rose by 18%. Over the whole period it spent 93% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Lakewood Manor Baptist Retirement Community Inc sits at the 99th percentile: it is larger than about 99% 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 Alvis Inc ($42.8m), Bost Inc ($42.9m) and Community Child Care Coordinating Council of Alameda County ($42.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.3% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $251k (0.6% of expenses). Other salaries and wages came to $13.6m. At year end it held assets of $213.6m against liabilities of $157.5m, net assets of $56.0m.