Multi-Faith Retirement Services Live Oak Retirement Center

Analysis

Multi-Faith Retirement Services Live Oak Retirement Center is a registered charity in United States, based in Shreveport, LA. It received its IRS tax-exemption ruling in May 1977, 49 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 September 2023, Multi-Faith Retirement Services Live Oak Retirement Center reported income of $10.6m and spending of $13.0m, spending 123% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $12.5m to $10.6m (-15%), an average of -4.1% a year. The sharpest change came in the year to September 2021, when income dropped by 15%. Over the whole period it spent 108% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Multi-Faith Retirement Services Live Oak Retirement Center sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within LA. Charities of a similar size with the same main cause include The Mystic Valley Young Mens Christian Association ($10.6m), New Hampshire Odd Fellows Home ($10.6m) and Nash-Edgecombe Wilson Community Action Inc ($10.6m).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 96% of the total. Other salaries and wages came to $5.3m. At year end it held assets of $12.9m against liabilities of $5.5m, net assets of $7.4m. It reported 135 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.