Southwest Florida Retirement Center

Analysis

Southwest Florida Retirement Center is a registered charity in United States, based in Venice, FL. It received its IRS tax-exemption ruling in March 1981, 45 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, Southwest Florida Retirement Center reported income of $36.6m and spending of $32.0m, spending 88% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $24.6m to $36.6m (+49%), an average of +10% a year. The sharpest change came in the year to December 2021, when income rose by 19%. 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, Southwest Florida Retirement Center 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 FL. Charities of a similar size with the same main cause include Jewish Community Services of South Florida Inc ($36.6m), Northern Manor Multicare Center Inc ($36.6m) and Inglis House ($36.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 13% and program service revenue 83% of the total. Compensation of current officers, directors and key employees was $610k (1.9% of expenses). Other salaries and wages came to $10.9m. At year end it held assets of $168.1m against liabilities of $157.2m, net assets of $10.9m. It reported 323 employees.