Masonic Home of Virginia

Analysis

Masonic Home of Virginia is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in November 1928, 98 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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, Masonic Home of Virginia reported income of $9.3m and spending of $13.8m, spending 147% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $10.9m to $9.3m (-14%), an average of -3.8% a year. The sharpest change came in the year to December 2023, when income rose by 434%. Over the whole period it spent 156% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Masonic Home of Virginia sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within VA. Charities of a similar size with the same main cause include The Health Collaborative ($9.3m), Good Samaritan Health Center Inc ($9.3m) and Soledad Enrichment Action Inc ($9.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 29% and program service revenue 64% of the total. Compensation of current officers, directors and key employees was $432k (3.1% of expenses). Other salaries and wages came to $6.9m. At year end it held assets of $76.7m against liabilities of $9.2m, net assets of $67.5m. It reported 152 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.