Newtown Housing for the Elderly Inc

Analysis

Newtown Housing for the Elderly Inc is a registered charity in United States, based in Newtown, CT. It received its IRS tax-exemption ruling in May 1993, 33 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, Newtown Housing for the Elderly Inc reported income of $1.2m and spending of $1.5m, spending 125% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.2m to $1.2m (+1.4%), an average of +0.4% a year. Over the whole period it spent 118% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Newtown Housing for the Elderly Inc 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 81st percentile, and in the 80th percentile within CT. Charities of a similar size with the same main cause include Fort Mill Housing Services Inc ($1.2m), Odd Fellows and Rebekah Home of North Dakota Incorporated ($1.2m) and Affordable Housing Solutions Inc ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 31% and program service revenue 68% of the total. Other salaries and wages came to $495k. At year end it held assets of $3.8m against liabilities of $6.1m, net assets of -$2.3m. It reported 10 employees.

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.