Welty Home for the Aged Inc

Analysis

Welty Home for the Aged Inc is a registered charity in United States, based in Cincinnati, OH. It received its IRS tax-exemption ruling in March 1946, 80 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Welty Home for the Aged Inc reported income of $31.8m and spending of $29.7m, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $29.7m to $31.8m (+7.2%), an average of +1.7% a year. 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, Welty Home for the Aged 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 OH. Charities of a similar size with the same main cause include Lifeline Youth & Family Services Inc ($31.8m), University Retirement Community at Davis Inc ($31.9m) and Sharing Life Community Outreach Inc ($31.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.5% and program service revenue 96% of the total. Compensation of current officers, directors and key employees was $403k (1.4% of expenses). Other salaries and wages came to $14.0m. At year end it held assets of $92.2m against liabilities of $2.2m, net assets of $90.0m. It reported 499 employees.