Palm Shores Retirement Community Inc

Analysis

Palm Shores Retirement Community Inc is a registered charity in United States, based in Orlando, FL. It received its IRS tax-exemption ruling in January 2002, 24 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 March 2023, Palm Shores Retirement Community Inc reported income of $16.5m and spending of $16.4m, spending 99% of its income. Across the 5 years on record, from March 2019 to March 2023, income grew from $13.7m to $16.5m (+21%), an average of +4.9% a year. Over the whole period it spent 88% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Palm Shores Retirement Community Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within FL. Charities of a similar size with the same main cause include KTD Home Ownership Maximization Enterprise Corp ($16.5m), Third Baptist Gardens Incorporated ($16.6m) and Venice Community Housing Corporation ($16.5m).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 0.4% and program service revenue 98% of the total. Other salaries and wages came to $5.7m. At year end it held assets of $36.8m against liabilities of $24.9m, net assets of $11.9m. It reported 163 employees.