Westminster Presbyterian Retirement Community Inc

Analysis

Westminster Presbyterian Retirement Community Inc is a registered charity in United States, based in Lake Ridge, VA. It received its IRS tax-exemption ruling in September 1990, 36 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, Westminster Presbyterian Retirement Community Inc reported income of $29.4m and spending of $31.9m, spending 109% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $25.9m to $29.4m (+14%), an average of +3.2% a year. Over the whole period it spent 104% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Westminster Presbyterian 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 Jewish Community Center of San Francisco ($29.3m), The Agricultural and Labor Program Incorporated ($29.4m) and Childrens Home Society of South Dakota ($29.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.0% and program service revenue 96% of the total. Compensation of current officers, directors and key employees was $222k (0.7% of expenses). Other salaries and wages came to $9.7m. At year end it held assets of $83.1m against liabilities of $116.1m, net assets of -$33.1m. It reported 283 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.