Portage Homes for Elderly Inc

Analysis

Portage Homes for Elderly Inc is a registered charity in United States, based in Morristown, TN. It received its IRS tax-exemption ruling in April 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Portage Homes for Elderly Inc reported income of $94k and spending of $130k, spending 138% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $84k to $94k (+13%), an average of +3.0% a year. Over the whole period it spent 148% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Portage Homes for Elderly Inc sits at the 21st percentile: it is larger than about 21% of them. Against every charity in United States with reported income it ranks in the 35th percentile, and in the 35th percentile within TN. Charities of a similar size with the same main cause include Friends Center City Retirement Community ($94k), Coburn Woods Inc ($94k) and House of Peace Ministries ($94k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 11% and program service revenue 89% of the total. At year end it held assets of $1.3m against liabilities of $1.9m, net assets of -$571k.

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.