Gates Senior Housing Inc

Analysis

Gates Senior Housing Inc is a registered charity in United States, based in Rochester, NY. It received its IRS tax-exemption ruling in September 2000, 26 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, Gates Senior Housing Inc reported income of $4.2m and spending of $4.7m, spending 112% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.1m to $4.2m (+3.3%), an average of +0.8% a year. Over the whole period it spent 100% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Gates Senior Housing 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 91st percentile, and in the 88th percentile within NY. Charities of a similar size with the same main cause include American Village Communities Inc ($4.2m), Christ Church Harbor Apt Inc ($4.3m) and Thistle Community Housing ($4.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.4% and program service revenue 97% of the total. Other salaries and wages came to $2.2m. At year end it held assets of $7.1m against liabilities of $8.2m, net assets of -$1.0m.