Skaalen Retirement Services Inc

Analysis

Skaalen Retirement Services Inc is a registered charity in United States, based in Stoughton, WI. It received its IRS tax-exemption ruling in April 1988, 38 years ago. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Skaalen Retirement Services Inc reported income of $1.4m and spending of $1.7m, spending 116% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $635k to $1.4m (+124%), an average of +22% a year. The sharpest change came in the year to December 2021, when income rose by 63%. Over the whole period it spent 144% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Skaalen Retirement Services Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 84th percentile within WI. Charities of a similar size with the same main cause include Hope and Justice Project Inc ($1.4m), Citizens Research Council of Michigan Inc ($1.4m) and Region IX Head Start Association ($1.4m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $550k. At year end it held assets of $8.3m against liabilities of $10.9m, net assets of -$2.6m.

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.