Bay Oaks Historic Retirement Residence Inc

Analysis

Bay Oaks Historic Retirement Residence Inc is a registered charity in United States, based in Miami, FL. It received its IRS tax-exemption ruling in August 1949, 77 years ago. 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 August 2024, Bay Oaks Historic Retirement Residence Inc reported income of $1.9m and spending of $1.8m, spending 95% of its income. Across the 6 years on record, from August 2019 to August 2024, income grew from $1.4m to $1.9m (+35%), an average of +6.1% a year. The sharpest change came in the year to August 2023, when income rose by 292%. Over the whole period it spent 71% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Bay Oaks Historic Retirement Residence Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 87th percentile within FL. Charities of a similar size with the same main cause include Fosterall ($1.9m), Rappahannock United Way Inc ($1.9m) and Minnesota Masonic Elder Services ($1.9m).

On its Form 990 for the period ending August 2024, revenue came from contributions and grants 6.1% and program service revenue 88% of the total. Other salaries and wages came to $978k. At year end it held assets of $5.9m against liabilities of $288k, net assets of $5.7m. It reported 33 employees.