Edgemont Elms Housing Inc

Analysis

Edgemont Elms Housing Inc is a registered charity in United States, based in Durham, NC. It received its IRS tax-exemption ruling in October 2007, 19 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, Edgemont Elms Housing Inc reported income of $591k and spending of $655k, spending 111% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $433k to $591k (+37%), an average of +8.1% a year. The sharpest change came in the year to December 2023, when income rose by 17%. Over the whole period it spent 122% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Edgemont Elms Housing Inc sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 72nd percentile within NC. Charities of a similar size with the same main cause include Robbinsdale Senior Housing Inc ($591k), Beacon of Life ($591k) and Hilltop Manor Association Inc ($591k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $68k. At year end it held assets of $1.5m against liabilities of $903k, net assets of $635k.

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.