Winchester Retirement Place Inc

Analysis

Winchester Retirement Place Inc is a registered charity in United States, based in Winchester, KY. It received its IRS tax-exemption ruling in July 2001, 25 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 (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, Winchester Retirement Place Inc reported income of $1.9m and spending of $2.2m, spending 116% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.2m to $1.9m (-12%), an average of -3.2% a year. The sharpest change came in the year to December 2020, when income dropped by 22%. Over the whole period it spent 108% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Winchester Retirement Place Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 86th percentile within KY. Charities of a similar size with the same main cause include Noahs Ark-Affordable Housing Inc ($1.9m), Pro Viviendas IV Inc ($1.9m) and Victory One Housing Development Fund Corporation ($1.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.2% and program service revenue 76% of the total. Compensation of current officers, directors and key employees was $98k (4.4% of expenses). Other salaries and wages came to $814k. At year end it held assets of $2.7m against liabilities of $942k, net assets of $1.7m. It reported 32 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.