Concerned Home Managers for the Elderly Inc

Analysis

Concerned Home Managers for the Elderly Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in September 1986, 40 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, Concerned Home Managers for the Elderly Inc reported income of $5.0m and spending of $4.7m, spending 95% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.7m to $5.0m (+5.7%), an average of +1.4% a year. The sharpest change came in the year to December 2021, when income rose by 23%. Over the whole period it spent 99% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Concerned Home Managers for the Elderly Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 90th percentile within NY. Charities of a similar size with the same main cause include Inspiration Corporation ($5.0m), Good Counsel Inc ($5.0m) and Rockwall County Helping Hands ($5.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 8.6% and program service revenue 89% of the total. Compensation of current officers, directors and key employees was $182k (3.9% of expenses). Other salaries and wages came to $3.5m. At year end it held assets of $1.8m against liabilities of $832k, net assets of $971k. It reported 181 employees.