Masonic Homes of Kentucky Inc

Analysis

Masonic Homes of Kentucky Inc is a registered charity in United States, based in Masonic Home, KY. It received its IRS tax-exemption ruling in June 1949, 77 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Masonic Homes of Kentucky Inc reported income of $41.6m and spending of $47.4m, spending 114% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $38.1m to $41.6m (+9.2%), an average of +2.2% a year. Over the whole period it spent 112% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Masonic Homes of Kentucky Inc sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within KY. Charities of a similar size with the same main cause include Mission Neighborhood Centers Inc ($41.5m), Chimes Inc ($41.6m) and United Planning Organization ($41.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 3.8% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $930k (2.0% of expenses). Other salaries and wages came to $22.1m. At year end it held assets of $83.3m against liabilities of $73.9m, net assets of $9.4m. It reported 799 employees.

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.