King Farm Presbyterian Retirement
King Farm Presbyterian Retirement consistently operates with expenses exceeding revenue and maintains high liabilities relative to assets.
EIN: 202004162 · Rockville, MD · NTEE: L22 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $57.6M |
| Total Expenses | $49.5M |
| Program Spending | 90% |
| CEO/Top Officer Pay | $46M |
| Net Assets | $-96,249,794 |
| Transparency Score | 65/100 |
Is King Farm Presbyterian Retirement Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
King Farm Presbyterian Retirement directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About King Farm Presbyterian Retirement
King Farm Presbyterian Retirement (EIN: 202004162) is a nonprofit organization based in Rockville, MD, classified under NTEE code L22. The organization reported total revenue of $57.6M and total assets of $291.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of King Farm Presbyterian Retirement's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
King Farm Presbyterian Retirement is a major nonprofit that has been operating for 20 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 11.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $46.1M |
| Total Expenses | $49.5M |
| Surplus / Deficit | $-3,386,047 |
| Total Assets | $302.6M |
| Total Liabilities | $398.9M |
| Net Assets | $-96,249,794 |
| Operating Margin | -7.3% |
| Debt-to-Asset Ratio | 131.8% |
| Months of Reserves | 73.3 months |
Financial Health Grade: C
In 2023, King Farm Presbyterian Retirement reported a deficit of $3.4M with expenses exceeding revenue, holds 73.3 months of operating reserves (strong position), has a debt-to-asset ratio of 131.8% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), King Farm Presbyterian Retirement's revenue has grown at a compound annual growth rate (CAGR) of 11.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +19.3% | +11.0% | +2.1% |
| 2022 | +11.1% | +6.3% | -1.7% |
| 2021 | +4.2% | -4.2% | -1.1% |
| 2020 | +25.3% | +34.8% | -15.8% |
| 2019 | +8.5% | +13.3% | +3.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2006 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates King Farm Presbyterian Retirement with a Mission Score of 65 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 7%
- programs: 90%
- fundraising: 3%
According to IRS 990 filings, King Farm Presbyterian Retirement allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $3.4M, with expenses exceeding revenue.
- Debt-to-asset ratio: 131.8%.
Executive Compensation Analysis
The consistent reporting of 0% officer compensation across all available filings is unusual for an organization of this size ($46M+ revenue) and suggests that executive compensation may be reported differently or through a related entity, which limits transparency regarding leadership costs.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of King Farm Presbyterian Retirement's IRS 990 filings:
- Consistent operating deficits (expenses exceeding revenue)
- Liabilities consistently exceed assets
- Unusually low (0%) reported officer compensation for an organization of this size
Strengths
The following positive indicators were identified for King Farm Presbyterian Retirement:
- Long operating history with 13 filings
- Significant asset base ($302M+ in 2023)
- Consistent revenue growth over the past decade (e.g., $18.9M in 2014 to $46.1M in 2023)
Frequently Asked Questions about King Farm Presbyterian Retirement
Is King Farm Presbyterian Retirement a legitimate charity?
King Farm Presbyterian Retirement (EIN: 202004162) is a registered tax-exempt nonprofit based in Maryland. Our AI analysis gives it a Mission Score of 65/100. It has 13 years of IRS 990 filings on record. Total revenue: $57.6M. 3 red flags identified. 3 strengths noted. Financial health grade: C.
How does King Farm Presbyterian Retirement spend its money?
King Farm Presbyterian Retirement directs 90% of its spending to programs and services. Fundraising costs 3%. This exceeds the 65% industry benchmark.
Are donations to King Farm Presbyterian Retirement tax-deductible?
King Farm Presbyterian Retirement is registered as a tax-exempt nonprofit (EIN: 202004162). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the King Farm Presbyterian Retirement CEO make?
King Farm Presbyterian Retirement's highest-compensated officer earns $46M annually. The organization reported $57.6M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of King Farm Presbyterian Retirement's spending goes to programs?
King Farm Presbyterian Retirement directs 90% to programs, 3% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does King Farm Presbyterian Retirement compare to similar nonprofits?
With a transparency score of 65/100 (Good), King Farm Presbyterian Retirement is above average for NTEE category L22 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is King Farm Presbyterian Retirement located?
King Farm Presbyterian Retirement is headquartered in Rockville, Maryland and files with the IRS under EIN 202004162. It is classified under NTEE code L22.
How many years of IRS 990 filings does King Farm Presbyterian Retirement have?
King Farm Presbyterian Retirement has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $57.6M in total revenue.
Why do expenses consistently exceed revenue?
The organization consistently reports expenses higher than revenue, for example, $49,514,906 in expenses vs. $46,128,859 in revenue in 2023. This suggests an operational model that may rely on other funding sources not fully captured as 'revenue' or a planned deficit strategy common in some CCRC models.
What is the nature of the high liabilities?
Liabilities consistently exceed assets, reaching $398,890,230 against $302,640,436 in assets in 2023. This is common for CCRCs due to resident entrance fees and long-term contractual obligations, but understanding the specific breakdown is crucial for financial health assessment.
How is executive compensation handled if reported as 0%?
The 0% officer compensation reported across all filings is atypical for an organization of this scale. It raises questions about whether compensation is paid through a management company, a related entity, or if the reporting category used does not capture all executive remuneration.
What is the long-term strategy for addressing operating deficits?
Given the consistent trend of expenses surpassing revenue, it's important to understand the organization's long-term financial strategy to ensure sustainability and continued service delivery.
Filing History
IRS 990 filing history for King Farm Presbyterian Retirement showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), King Farm Presbyterian Retirement's revenue has grown by 257.3%, moving from $12.9M to $46.1M. Total assets increased by 58.4% over the same period, from $191.1M to $302.6M. Total functional expenses rose by 107.2%, from $23.9M to $49.5M. In its most recent filing year (2023), King Farm Presbyterian Retirement reported a deficit of $3.4M, with expenses exceeding revenue. The organization holds $398.9M in liabilities against $302.6M in assets (debt-to-asset ratio: 131.8%), resulting in net assets of $-96,249,794.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $46.1M | $49.5M | $302.6M | $398.9M | — | — |
| 2022 | $38.7M | $44.6M | $296.4M | $395.4M | — | View 990 |
| 2021 | $34.8M | $42.0M | $301.4M | $391.9M | — | View 990 |
| 2020 | $33.4M | $43.8M | $304.8M | $389.5M | — | View 990 |
| 2019 | $26.6M | $32.5M | $362.2M | $437.2M | — | View 990 |
| 2018 | $24.6M | $28.7M | $349.5M | $419.8M | — | View 990 |
| 2017 | $24.7M | $29.1M | $358.9M | $419.2M | — | View 990 |
| 2016 | $22.2M | $26.2M | $190.8M | $248.7M | — | View 990 |
| 2015 | $21.0M | $25.1M | $177.4M | $232.0M | — | View 990 |
| 2014 | $18.9M | $24.0M | $178.5M | $228.5M | — | View 990 |
| 2013 | $17.8M | $23.8M | $179.2M | $224.3M | — | View 990 |
| 2012 | $15.9M | $23.7M | $178.4M | $217.6M | — | View 990 |
| 2011 | $12.9M | $23.9M | $191.1M | $222.7M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $46.1M, expenses of $49.5M, and assets of $302.6M (revenue +19.3% year-over-year).
- 2022: Revenue of $38.7M, expenses of $44.6M, and assets of $296.4M (revenue +11.1% year-over-year).
- 2021: Revenue of $34.8M, expenses of $42.0M, and assets of $301.4M (revenue +4.2% year-over-year).
- 2020: Revenue of $33.4M, expenses of $43.8M, and assets of $304.8M (revenue +25.3% year-over-year).
- 2019: Revenue of $26.6M, expenses of $32.5M, and assets of $362.2M (revenue +8.5% year-over-year).
- 2018: Revenue of $24.6M, expenses of $28.7M, and assets of $349.5M (revenue -0.6% year-over-year).
- 2017: Revenue of $24.7M, expenses of $29.1M, and assets of $358.9M (revenue +11.4% year-over-year).
- 2016: Revenue of $22.2M, expenses of $26.2M, and assets of $190.8M (revenue +5.8% year-over-year).
- 2015: Revenue of $21.0M, expenses of $25.1M, and assets of $177.4M (revenue +10.8% year-over-year).
- 2014: Revenue of $18.9M, expenses of $24.0M, and assets of $178.5M (revenue +6.2% year-over-year).
- 2013: Revenue of $17.8M, expenses of $23.8M, and assets of $179.2M (revenue +12.2% year-over-year).
- 2012: Revenue of $15.9M, expenses of $23.7M, and assets of $178.4M (revenue +23.0% year-over-year).
- 2011: Revenue of $12.9M, expenses of $23.9M, and assets of $191.1M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for King Farm Presbyterian Retirement:
Data Sources and Methodology
This transparency report for King Farm Presbyterian Retirement is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.