Kings Manor Methodist Retirement System Inc

Analysis

Kings Manor Methodist Retirement System Inc is a registered charity in United States, based in Hereford, TX. It received its IRS tax-exemption ruling in September 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 December 2023, Kings Manor Methodist Retirement System Inc reported income of $1.1m and spending of $1.4m, spending 120% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $6.7m to $1.1m (-83%), an average of -36% a year. The sharpest change came in the year to December 2020, when income dropped by 50%. Over the whole period it spent 98% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Kings Manor Methodist Retirement System Inc sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 85th percentile within TX. Charities of a similar size with the same main cause include Nicollet Meadows Housing Group ($1.1m), Affordability Project Inc ($1.1m) and Encino Terrace Inc ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 13% and program service revenue 82% of the total. Compensation of current officers, directors and key employees was $58k (4.2% of expenses). Other salaries and wages came to $601k. At year end it held assets of $2.9m against liabilities of $27k, net assets of $2.8m. It reported 26 employees.