Promise Rose Residential Care Home

Analysis

Promise Rose Residential Care Home is a registered charity in United States, based in Houston, TX. It received its IRS tax-exemption ruling in July 2018, 8 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Promise Rose Residential Care Home reported income of $1.2m and spending of $1.2m, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.2m to $1.2m (-0.9%), an average of -0.2% a year. The sharpest change came in the year to December 2021, when income rose by 30%. Over the whole period it spent 102% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Promise Rose Residential Care Home sits at the 75th 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 Lodi House ($1.2m), Affordable Housing Partnership of the Capital Region Inc ($1.2m) and Senior Citizens Housing Development Corporation of Washington ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $134k (11% of expenses). Other salaries and wages came to $722k. At year end it held assets of $402k against liabilities of $273k, net assets of $129k. It reported 62 employees.