Laurel Heights Home for the Elderly

Analysis

Laurel Heights Home for the Elderly is a registered charity in United States, based in London, KY. It received its IRS tax-exemption ruling in October 2003, 23 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, Laurel Heights Home for the Elderly reported income of $20.5m and spending of $20.5m, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $16.8m to $20.5m (+22%), an average of +5.1% a year. Over the whole period it spent 97% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Laurel Heights Home for the Elderly sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within KY. Charities of a similar size with the same main cause include Hands on Healing Residential Treatment Center Inc ($20.5m), Mary Campbell Center ($20.6m) and Holy Angels Residential Facility ($20.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.2% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $163k (0.8% of expenses). Other salaries and wages came to $12.0m. At year end it held assets of $10.2m against liabilities of $10.4m, net assets of -$208k. It reported 373 employees.