Milton Residences for the Elderly Inc

Analysis

Milton Residences for the Elderly Inc is a registered charity in United States, based in Milton, MA. It received its IRS tax-exemption ruling in December 1968, 58 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Milton Residences for the Elderly Inc reported income of $1.8m and spending of $1.8m, spending 96% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.5m to $1.8m (+20%), an average of +4.7% a year. The sharpest change came in the year to December 2021, when income rose by 35%. Over the whole period it spent 98% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Milton Residences for the Elderly Inc sits at the 82nd percentile: it is larger than about 82% 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 African Advocacy Networrk ($1.8m), Small Tribes Organization of Western Washington ($1.8m) and Learning Together Inc ($1.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 5.5% and program service revenue 89% of the total. Compensation of current officers, directors and key employees was $234k (13% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $17.5m against liabilities of $14.6m, net assets of $2.9m. It reported 34 employees.