Baptist Retirement Homes of North Carolina Incorporated

Analysis

Baptist Retirement Homes of North Carolina Incorporated is a registered charity in United States, based in Winston Salem, NC. It received its IRS tax-exemption ruling in August 1952, 74 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 September 2023, Baptist Retirement Homes of North Carolina Incorporated reported income of $52.0m and spending of $47.5m, spending 91% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $29.1m to $52.0m (+79%), an average of +16% a year. The sharpest change came in the year to September 2023, when income rose by 31%. Over the whole period it spent 96% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Baptist Retirement Homes of North Carolina Incorporated sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within NC. Charities of a similar size with the same main cause include Drew Child Development Corporation Inc ($52.0m), Ada S McKinley Community Services Inc ($52.2m) and Beaumont Retirement Services Inc ($51.9m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 6.4% and program service revenue 74% of the total. Compensation of current officers, directors and key employees was $564k (1.2% of expenses). Other salaries and wages came to $17.9m. At year end it held assets of $136.8m against liabilities of $58.9m, net assets of $77.9m. It reported 654 employees.