Summerfield Senior Residences Inc

Analysis

Summerfield Senior Residences Inc is a registered charity in United States, based in Wichita, KS. It received its IRS tax-exemption ruling in May 1997, 29 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 May 2023, Summerfield Senior Residences Inc reported income of $230k and spending of $292k, spending 127% of what it took in. Across the 4 years on record, from May 2020 to May 2023, income grew from $198k to $230k (+16%), an average of +5.1% a year. Over the whole period it spent 129% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Summerfield Senior Residences Inc sits at the 41st percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 56th percentile within KS. Charities of a similar size with the same main cause include Hollywood Housing 811-97 ($230k), Hacfs Properties ($230k) and Whitewater Manor Inc ($230k).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 31% and program service revenue 63% of the total. At year end it held assets of $625k against liabilities of $41k, net assets of $584k.

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.