Memphremagog Senior Citizen Housing Inc

Analysis

Memphremagog Senior Citizen Housing Inc is a registered charity in United States, based in St Johnsbury, VT. It received its IRS tax-exemption ruling in July 1988, 38 years ago. 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, Memphremagog Senior Citizen Housing Inc reported income of $242k and spending of $255k, spending 105% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $219k to $242k (+11%), an average of +2.6% a year. Over the whole period it spent 105% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Memphremagog Senior Citizen Housing Inc sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 49th percentile within VT. Charities of a similar size with the same main cause include Kingco Conference ($242k), Consumer Bankruptcy Assistance Project Inc ($242k) and Jewish Community Relations Council ($242k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $918k against liabilities of $746k, net assets of $171k.

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.