Fort Norfolk Retirement Community Inc
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2020 | 22,131,656 | 23,546,952 | −1,415,296 | -26.4 | 33% |
| 2021 | 28,057,422 | 28,251,964 | −194,542 | -22.3 | 29% |
| 2022 | 31,116,999 | 41,173,772 | −10,056,773 | -19.0 | 23% |
| 2023 | 36,023,542 | 42,791,807 | −6,768,265 | -20.1 | 25% |
In its most recent public year (2023), this organization spent $6,768,265 more than it brought in. Its liabilities exceeded its net assets — reserves were below zero (-20.1 months), up from -26.4 in 2020. Staff pay was 25% of spending.
Reserve months = net assets ÷ average monthly spending; net assets count everything the organization owns beyond its debts — buildings and donor-restricted funds included, not just cash. Staff pay = salaries, wages, and officer compensation; it excludes benefits and payroll taxes. The IRS releases this data years after the fact — this organization's newest public year is 2023. Years refer to the calendar year in which the organization's fiscal year ended. Short-form filers do not publicly report donor-restricted balances or staffing costs. Source filings
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