Monticello Homes for Elderly Inc

Analysis

Monticello Homes for Elderly Inc is a registered charity in United States, based in Morristown, TN. It received its IRS tax-exemption ruling in March 2007, 19 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 March 2024, Monticello Homes for Elderly Inc reported income of $75k and spending of $131k, spending 173% of what it took in. Across the 5 years on record, from March 2020 to March 2024, income grew from $69k to $75k (+8.6%), an average of +2.1% a year. Over the whole period it spent 146% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Monticello Homes for Elderly Inc sits at the 17th percentile: it is larger than about 17% of them. Against every charity in United States with reported income it ranks in the 29th percentile, and in the 28th percentile within TN. Charities of a similar size with the same main cause include Pioneer Abodes Ltd ($75k), Hawkeye Housing NFP ($75k) and Haven of Hope Farm & Residence Inc ($75k).

On its Form 990 for the period ending March 2024, revenue came from contributions and grants 25% and program service revenue 75% of the total. At year end it held assets of $1.1m against liabilities of $1.5m, net assets of -$423k.

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.