Portales Retirement Housing Corporation

Analysis

Portales Retirement Housing Corporation is a registered charity in United States, based in Portales, NM. It received its IRS tax-exemption ruling in March 1977, 49 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, Portales Retirement Housing Corporation reported income of $812k and spending of $701k, spending 86% of its income. Across the 6 years on record, from December 2018 to December 2023, income grew from $672k to $812k (+21%), an average of +3.9% a year. The sharpest change came in the year to December 2023, when income rose by 21%. Over the whole period it spent 91% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Portales Retirement Housing Corporation sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 75th percentile within NM. Charities of a similar size with the same main cause include Deerfield Charitable Foundation ($812k), Hearthstone Homes of Wolfeboro Inc ($812k) and Fair Housing Contact Service Inc ($812k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 32% and program service revenue 72% of the total. Other salaries and wages came to $70k. At year end it held assets of $453k against liabilities of $561k, net assets of -$108k.