Sunshine Terrace Foundation Inc

Analysis

Sunshine Terrace Foundation Inc is a registered charity in United States, based in Logan, UT. It received its IRS tax-exemption ruling in April 1950, 76 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, Sunshine Terrace Foundation Inc reported income of $9.2m and spending of $11.0m, spending 119% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $11.3m to $9.2m (-18%), an average of -4.9% a year. The sharpest change came in the year to December 2020, when income rose by 27%. Over the whole period it spent 105% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Sunshine Terrace Foundation Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within UT. Charities of a similar size with the same main cause include Boy Scouts of America ($9.2m), Ramsbottom Center Inc ($9.2m) and Lamoille Home Health Agency Inc ($9.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 5.4% and program service revenue 93% of the total. Compensation of current officers, directors and key employees was $273k (2.5% of expenses). Other salaries and wages came to $5.5m. At year end it held assets of $9.5m against liabilities of $1.8m, net assets of $7.7m. It reported 375 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.