Annunciation Heights

Analysis

Annunciation Heights is a registered charity in United States, based in Denver, CO. It received its IRS tax-exemption ruling in March 1946, 80 years ago. 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 June 2023, Annunciation Heights reported income of $1.3m and spending of $2.7m, spending 202% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $729k to $1.3m (+84%), an average of +16% a year. The sharpest change came in the year to June 2022, when income rose by 81%. Over the whole period it spent 215% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Annunciation Heights sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 81st percentile within CO. Charities of a similar size with the same main cause include Great Commission Foundation Inc ($1.3m), Foundation Chapter of Theta Chi Fraternity Inc ($1.3m) and National Family Caregivers Assoc ($1.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 26% and program service revenue 73% of the total. Compensation of current officers, directors and key employees was $284k (10% of expenses). Other salaries and wages came to $789k. At year end it held assets of $4.3m against liabilities of $10.4m, net assets of -$6.1m. It reported 72 employees.

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.