Chatham Homes for Elderly Inc

Analysis

Chatham Homes for Elderly Inc is a registered charity in United States, based in Morristown, TN. It received its IRS tax-exemption ruling in August 2006, 20 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 March 2024, Chatham Homes for Elderly Inc reported income of $117k and spending of $167k, spending 142% of what it took in. Across the 5 years on record, from March 2020 to March 2024, income grew from $107k to $117k (+9.4%), an average of +2.3% a year. Over the whole period it spent 134% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Chatham Homes for Elderly Inc sits at the 26th percentile: it is larger than about 26% of them. Against every charity in United States with reported income it ranks in the 41st percentile, and in the 41st percentile within TN. Charities of a similar size with the same main cause include Sohum Housing Opportunities ($117k), Facts Education Fund ($117k) and Ideal Apartments Housing Corporation ($117k).

On its Form 990 for the period ending March 2024, revenue came from contributions and grants 23% and program service revenue 77% of the total. At year end it held assets of $1.4m against liabilities of $2.0m, net assets of -$566k.

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.