Bishop Gadsden Episcopal Retirement Community

Analysis

Bishop Gadsden Episcopal Retirement Community is a registered charity in United States, based in Charleston, SC. It received its IRS tax-exemption ruling in June 1943, 83 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, Bishop Gadsden Episcopal Retirement Community reported income of $63.2m and spending of $67.2m, spending 106% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $44.1m to $63.2m (+43%), an average of +9.4% a year. The sharpest change came in the year to December 2023, when income rose by 31%. Over the whole period it spent 98% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Bishop Gadsden Episcopal Retirement Community 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 SC. Charities of a similar size with the same main cause include Direction Home Akron Canton Area Agency on Aging ($63.2m), Graceworks Lutheran Services ($63.2m) and Wesley Family Services ($63.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.7% and program service revenue 90% of the total. Compensation of current officers, directors and key employees was $2.1m (3.2% of expenses). Other salaries and wages came to $24.6m. At year end it held assets of $309.5m against liabilities of $252.3m, net assets of $57.2m. It reported 886 employees.