Methodist Home for the Aging

Analysis

Methodist Home for the Aging is a registered charity in United States, based in Irondale, AL. It received its IRS tax-exemption ruling in April 1964, 62 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 June 2023, Methodist Home for the Aging reported income of $53.0m and spending of $53.0m, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $45.2m to $53.0m (+17%), an average of +4.1% a year. Over the whole period it spent 100% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Methodist Home for the Aging sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within AL. Charities of a similar size with the same main cause include Board of Child Care of the United Methodist Church Incorporated ($53.0m), Landis Homes Retirement Community ($53.1m) and Harvest Hope Food Bank ($52.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.4% and program service revenue 96% of the total. Compensation of current officers, directors and key employees was $1.1m (2.0% of expenses). Other salaries and wages came to $22.0m. At year end it held assets of $110.0m against liabilities of $88.0m, net assets of $22.0m. It reported 977 employees.