Riverton Homes for Elderly Inc

Analysis

Riverton 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 education, which this site groups under education and training. 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, Riverton Homes for Elderly Inc reported income of $70k and spending of $86k, spending 123% of what it took in. Across the 5 years on record, from March 2020 to March 2024, income grew from $62k to $70k (+13%), an average of +3.1% a year. Over the whole period it spent 132% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Riverton Homes for Elderly Inc sits at the 30th percentile: it is larger than about 30% of them. Against every charity in United States with reported income it ranks in the 27th percentile, and in the 26th percentile within TN. Charities of a similar size with the same main cause include Highland Park High School Choir Booster Club ($70k), Belton Band Boosters ($70k) and Alpha Foundation of Howard County Inc ($70k).

On its Form 990 for the period ending March 2024, revenue came from contributions and grants 32% and program service revenue 68% of the total. At year end it held assets of $664k against liabilities of $982k, net assets of -$318k.

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.