Palatka Retirement Villas Inc

Analysis

Palatka Retirement Villas Inc is a registered charity in United States, based in Jacksonville, FL. It received its IRS tax-exemption ruling in March 1946, 80 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 December 2023, Palatka Retirement Villas Inc reported income of $938k and spending of $967k, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $863k to $938k (+8.6%), an average of +2.1% a year. Over the whole period it spent 103% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Palatka Retirement Villas Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 81st percentile within FL. Charities of a similar size with the same main cause include Nanticoke Senior Center Inc ($937k), Carden of Tucson ($938k) and Christian Renewal Ministries Inc ($937k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $205k. At year end it held assets of $964k against liabilities of $2.4m, net assets of -$1.5m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.