Geneva Avenue Elderly Housing Inc

Analysis

Geneva Avenue Elderly Housing Inc is a registered charity in United States, based in Wellesley, MA. It received its IRS tax-exemption ruling in March 2000, 26 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 June 2023, Geneva Avenue Elderly Housing Inc reported income of $743k and spending of $863k, spending 116% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $511k to $743k (+45%), an average of +9.8% a year. The sharpest change came in the year to June 2020, when income rose by 48%. Over the whole period it spent 121% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Geneva Avenue Elderly Housing Inc sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 76th percentile within MA. Charities of a similar size with the same main cause include Indianapolis Ministries 1 Inc ($743k), Argus Manor Association ($743k) and Orchard Terrace Non - Profit Elderly Housing Corp ($743k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 1.3% and program service revenue 98% of the total. At year end it held assets of $4.6m against liabilities of $7.0m, net assets of -$2.4m.

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.