Open Arms Assisted Living

Analysis

Open Arms Assisted Living is a registered charity in United States, based in Denver, CO. It received its IRS tax-exemption ruling in February 2020, 6 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 July 2023, Open Arms Assisted Living reported income of $973k and spending of $2.7m, spending 273% of what it took in. Across the 5 years on record, from December 2018 to July 2023, income grew from $364k to $973k (+167%), an average of +28% a year. The sharpest change came in the year to July 2020, when income rose by 916%. Over the whole period it spent 85% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Open Arms Assisted Living sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 77th percentile within CO. Charities of a similar size with the same main cause include Broadway Recovery Services ($972k), Ahi Capital Gateway Inc ($973k) and Berry Park Housing Corporation ($972k).

On its Form 990 for the period ending July 2023, revenue came from program service revenue 99% of the total. Compensation of current officers, directors and key employees was $70k (2.6% of expenses). Other salaries and wages came to $337k. At year end it held assets of $6.5m against liabilities of $5.9m, net assets of $535k. It reported 14 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.