Whitemarsh Continuing Care Retirement Community

Analysis

Whitemarsh Continuing Care Retirement Community is a registered charity in United States, based in Lafayette HL, PA. It received its IRS tax-exemption ruling in November 2004, 22 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, Whitemarsh Continuing Care Retirement Community reported income of $50.1m and spending of $53.7m, spending 107% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $37.4m to $50.1m (+34%), an average of +7.5% a year. The sharpest change came in the year to December 2023, when income rose by 23%. Over the whole period it spent 111% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Whitemarsh Continuing Care Retirement Community sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 98th percentile within PA. Charities of a similar size with the same main cause include Immanuel Retirement Communities ($49.7m), Champlain Housing TR ($50.2m) and Skill Creations Inc ($48.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 10% and program service revenue 88% of the total. Compensation of current officers, directors and key employees was $1.4m (2.7% of expenses). Other salaries and wages came to $15.3m. At year end it held assets of $241.7m against liabilities of $321.3m, net assets of -$79.6m. It reported 412 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.