Housing Opportunities Milton Elderly Inc

Analysis

Housing Opportunities Milton Elderly Inc is a registered charity in United States, based in Milton, MA. It received its IRS tax-exemption ruling in July 1979, 47 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Housing Opportunities Milton Elderly Inc reported income of $1.9m and spending of $2.1m, spending 114% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.1m to $1.9m (+70%), an average of +14% a year. The sharpest change came in the year to December 2021, when income rose by 90%. Over the whole period it spent 128% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Housing Opportunities Milton Elderly Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 84th percentile within MA. Charities of a similar size with the same main cause include Colorado Homeless Families Inc ($1.9m), Hoosier Housing Group Inc ($1.9m) and Episcopal Housing Corporation ($1.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.3% and program service revenue 75% of the total. Compensation of current officers, directors and key employees was $90k (4.2% of expenses). Other salaries and wages came to $151k. At year end it held assets of $14.9m against liabilities of $30.7m, net assets of -$15.9m. It reported 4 employees.