Hrca Housing for Elderly Inc

Analysis

Hrca Housing for Elderly Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in December 1974, 52 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Hrca Housing for Elderly Inc reported income of $8.9m and spending of $8.6m, spending 97% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $7.6m to $8.9m (+17%), an average of +4.1% a year. Over the whole period it spent 102% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Hrca Housing for Elderly Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 94th percentile within MA. Charities of a similar size with the same main cause include Family Bridges Inc ($8.9m), West Baltimore Renaissance Foundation Inc ($8.9m) and Mercy Hospital Healdton Inc ($8.9m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 1.0% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $179k (2.1% of expenses). Other salaries and wages came to $1.7m. At year end it held assets of $19.0m against liabilities of $54.4m, net assets of -$35.4m. It reported 48 employees.