Hermon Elderly Project

Analysis

Hermon Elderly Project is a registered charity in United States, based in Bangor, ME. It received its IRS tax-exemption ruling in May 1983, 43 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Hermon Elderly Project reported income of $168k and spending of $227k, spending 135% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $147k to $168k (+14%), an average of +3.4% a year. Over the whole period it spent 134% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hermon Elderly Project sits at the 44th percentile: it is larger than about 44% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 43rd percentile within ME. Charities of a similar size with the same main cause include Tarahumara Childrens Hospital Fund of Oregon ($168k), Partnership for Age Friendly Communities in Larimer County ($168k) and Deaf Ability Resource Inc ($168k).

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 $786k against liabilities of $1.2m, net assets of -$369k.

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.