Methodist Retirement Communities

Analysis

Methodist Retirement Communities is a registered charity in United States, based in The Woodlands, TX. It received its IRS tax-exemption ruling in November 2016, 10 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Methodist Retirement Communities reported income of $6.2m and spending of $5.4m, spending 88% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.9m to $6.2m (+60%), an average of +12% a year. The sharpest change came in the year to December 2022, when income rose by 109%. Over the whole period it spent 88% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Methodist Retirement Communities 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 93rd percentile, and in the 95th percentile within TX. Charities of a similar size with the same main cause include Housing Works ($6.2m), Habitat for Humanity of Key West and Lower Florida Keys ($6.2m) and Menorah Park ($6.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 13% and program service revenue 83% of the total. Compensation of current officers, directors and key employees was $893k (16% of expenses). Other salaries and wages came to $2.7m. At year end it held assets of $18.1m against liabilities of $6.3m, net assets of $11.7m. It reported 1,493 employees.