Serenity House of Memphis Tennessee

Analysis

Serenity House of Memphis Tennessee is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in March 1972, 54 years ago. 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 June 2023, Serenity House of Memphis Tennessee reported income of $5.1m and spending of $4.7m, spending 93% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $3.9m to $5.1m (+30%), an average of +9.2% a year. The sharpest change came in the year to June 2021, when income rose by 20%. Over the whole period it spent 92% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Serenity House of Memphis Tennessee sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 93rd percentile within TN. Charities of a similar size with the same main cause include Walker Residence Inc ($5.1m), Northwest Community Action Partnership ($5.1m) and Hope Medical Clinic Inc ($5.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 2.3% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $149k (3.2% of expenses). Other salaries and wages came to $2.0m. At year end it held assets of $6.2m against liabilities of $2.0m, net assets of $4.3m. It reported 69 employees.