Mount St Vincent Home Inc

Analysis

Mount St Vincent Home Inc is a registered charity in United States, based in Salt Lake Cty, UT. It received its IRS tax-exemption ruling in March 1946, 80 years ago. 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, Mount St Vincent Home Inc reported income of $7.5m and spending of $7.8m, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $8.8m to $7.5m (-15%), an average of -3.9% a year. The sharpest change came in the year to December 2023, when income rose by 28%. Over the whole period it spent 106% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Mount St Vincent Home Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within UT. Charities of a similar size with the same main cause include Homestead Schools Inc ($7.5m), Visiting Nurse Association of Erie County ($7.5m) and Boom Health ($7.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 42% and program service revenue 51% of the total. Compensation of current officers, directors and key employees was $378k (4.9% of expenses). Other salaries and wages came to $4.7m. At year end it held assets of $40.5m against liabilities of $4.9m, net assets of $35.6m. It reported 93 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.