Lake Wales Retirement Center Inc
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2020 | 5,750,823 | 7,023,836 | −1,273,013 | -3.2 | 25% |
| 2021 | 5,296,039 | 7,455,393 | −2,159,354 | -6.5 | 27% |
| 2022 | 5,752,725 | 7,742,605 | −1,989,880 | -9.3 | 26% |
| 2023 | 6,623,849 | 9,036,583 | −2,412,734 | -11.2 | 21% |
In its most recent public year (2023), this organization spent $2,412,734 more than it brought in. Its liabilities exceeded its net assets — reserves were below zero (-11.2 months), down from -3.2 in 2020. Staff pay was 21% 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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