Hanover Legion Elderly Housing Corp

Analysis

Hanover Legion Elderly Housing Corp is a registered charity in United States, based in Braintree, MA. It received its IRS tax-exemption ruling in September 1980, 46 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Hanover Legion Elderly Housing Corp reported income of $1.3m and spending of $1.1m, spending 83% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.1m to $1.3m (+16%), an average of +3.8% a year. Over the whole period it spent 90% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Hanover Legion Elderly Housing Corp sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 81st percentile within MA. Charities of a similar size with the same main cause include HQM Properties Inc ($1.3m), Kinston Towers I ($1.3m) and U S Brownsville III H D F C ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 66% and program service revenue 30% of the total. At year end it held assets of $2.9m against liabilities of $3.0m, net assets of -$122k.