Wichita Falls Retirement Foundation

Analysis

Wichita Falls Retirement Foundation is a registered charity in United States, based in Wichita Falls, TX. It received its IRS tax-exemption ruling in July 1983, 43 years ago. 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, Wichita Falls Retirement Foundation reported income of $10.6m and spending of $10.2m, spending 96% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $10.0m to $10.6m (+5.6%), an average of +1.4% a year. Over the whole period it spent 93% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Wichita Falls Retirement Foundation 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 96th percentile within TX. Charities of a similar size with the same main cause include Ucp Bayville Incorporated ($10.5m), Grace Centers of Hope ($10.6m) and Bucks County Free Library ($10.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.2% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $124k (1.2% of expenses). At year end it held assets of $26.0m against liabilities of $14.1m, net assets of $11.9m. It reported 302 employees.