El Castillo Retirement Residences

Analysis

El Castillo Retirement Residences is a registered charity in United States, based in Santa Fe, NM. It received its IRS tax-exemption ruling in April 1971, 55 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 June 2023, El Castillo Retirement Residences reported income of $19.0m and spending of $21.2m, spending 112% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $12.8m to $19.0m (+48%), an average of +10% a year. The sharpest change came in the year to June 2023, when income rose by 61%. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, El Castillo Retirement Residences sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within NM. Charities of a similar size with the same main cause include New Hope Village ($19.0m), Meridian Healthcare ($19.0m) and Allwell Behavioral Health Services ($19.0m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 97% of the total. Compensation of current officers, directors and key employees was $355k (1.7% of expenses). Other salaries and wages came to $6.1m. At year end it held assets of $122.8m against liabilities of $111.5m, net assets of $11.3m. It reported 285 employees.