STM Elderly Housing Corp

Analysis

STM Elderly Housing Corp is a registered charity in United States, based in Hartford, CT. It received its IRS tax-exemption ruling in March 1992, 34 years ago. 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 July 2023, STM Elderly Housing Corp reported income of $527k and spending of $632k, spending 120% of what it took in. Across the 5 years on record, from July 2019 to July 2023, income grew from $466k to $527k (+13%), an average of +3.1% a year. Over the whole period it spent 122% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, STM Elderly Housing Corp sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 69th percentile within CT. Charities of a similar size with the same main cause include Laurel Civic Association Inc ($527k), New York Memory Center Inc ($527k) and Assisi Homes-Kenosha Inc ($526k).

On its Form 990 for the period ending July 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $752k against liabilities of $127k, net assets of $625k.

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.