Aldersgate Retirement Community Inc

Analysis

Aldersgate Retirement Community Inc is a registered charity in United States, based in Tupelo, MS. It received its IRS tax-exemption ruling in February 1986, 40 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 December 2023, Aldersgate Retirement Community Inc reported income of $1.1m and spending of $1.1m, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $980k to $1.1m (+12%), an average of +2.8% a year. The sharpest change came in the year to December 2022, when income rose by 19%. Over the whole period it spent 106% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Aldersgate Retirement Community Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 82nd percentile within MS. Charities of a similar size with the same main cause include McLennan County Youth Activities Association ($1.1m), Center for Communication and Development ($1.1m) and Rochester Opera House Inc ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. At year end it held assets of $1.6m against liabilities of $2.2m, net assets of -$590k.

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.