South Bay Retirement Residence

Analysis

South Bay Retirement Residence is a registered charity in United States, based in Glendale, CA. It received its IRS tax-exemption ruling in July 1991, 35 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, South Bay Retirement Residence reported income of $877k and spending of $988k, spending 113% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $692k to $877k (+27%), an average of +6.1% a year. Over the whole period it spent 114% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, South Bay Retirement Residence sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 79th percentile within CA. Charities of a similar size with the same main cause include Housing Network Rhode Island Assoc of Nonprofit Housing Developers ($877k), St Sharbels Maronite Housing Corporation ($878k) and Dowling Park Home Inc ($877k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 98% of the total. At year end it held assets of $3.0m against liabilities of $6.1m, net assets of -$3.1m.

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.