Home for Elderly Women of Montgomery County Inc

Analysis

Home for Elderly Women of Montgomery County Inc is a registered charity in United States, based in Amsterdam, NY. It received its IRS tax-exemption ruling in June 1946, 80 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 September 2023, Home for Elderly Women of Montgomery County Inc reported income of $906k and spending of $1.4m, spending 152% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $1.1m to $906k (-19%), an average of -5.1% a year. The sharpest change came in the year to September 2022, when income dropped by 42%. Over the whole period it spent 124% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Home for Elderly Women of Montgomery County Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 74th percentile within NY. Charities of a similar size with the same main cause include Cibc Foundation ($906k), Chemung County Historical Society Inc ($906k) and Texas Discovery Gardens ($906k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 14% and program service revenue 83% of the total. Compensation of current officers, directors and key employees was $81k (5.8% of expenses). Other salaries and wages came to $717k. At year end it held assets of $3.1m against liabilities of $32k, net assets of $3.0m. It reported 44 employees.