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. 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 $248k and spending of $319k, spending 129% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $223k to $248k (+11%), an average of +2.6% a year. Over the whole period it spent 132% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Methodist Home for the Aging sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 59th percentile within AL. Charities of a similar size with the same main cause include Little League Baseball Inc ($248k), Our House of Central VT Inc ($248k) and Francies Place Apartments Inc ($248k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $42k. At year end it held assets of $1.5m against liabilities of $873k, net assets of $658k. It reported 3 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.