Lynchburg Baptist Retirement Community LLC

Analysis

Lynchburg Baptist Retirement Community LLC is a registered charity in United States, based in Glen Allen, VA. It received its IRS tax-exemption ruling in May 2022, 4 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, Lynchburg Baptist Retirement Community LLC reported income of $8.4m and spending of $8.6m, spending 103% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $2.4m to $8.4m (+249%), an average of +87% a year. The sharpest change came in the year to December 2022, when income rose by 236%. Over the whole period it spent 99% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Lynchburg Baptist Retirement Community LLC 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 95th percentile within VA. Charities of a similar size with the same main cause include Ebenezer Primm Towers Inc ($8.3m), University Properties Inc ($8.4m) and The Martin and Edith Stein Assisted Living Residence Inc ($8.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.0% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $278k (3.2% of expenses). Other salaries and wages came to $2.9m. At year end it held assets of $63.8m against liabilities of $63.7m, net assets of $142k.