Eldercare Initiatives Inc

Analysis

Eldercare Initiatives Inc is a registered charity in United States, based in South Hadley, MA. It received its IRS tax-exemption ruling in June 2005, 21 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, Eldercare Initiatives Inc reported income of $572k and spending of $672k, spending 117% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $475k to $572k (+20%), an average of +4.8% a year. Over the whole period it spent 132% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Eldercare Initiatives Inc sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 72nd percentile within MA. Charities of a similar size with the same main cause include St Pauls Villa Inc ($572k), Troy Apartments Inc ($572k) and Thomaston Elderly Housing Inc ($572k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. At year end it held assets of $5.2m against liabilities of $7.0m, net assets of -$1.8m.

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.