Southbury Elderly Housing Inc

Analysis

Southbury Elderly Housing Inc is a registered charity in United States, based in Southbury, CT. It received its IRS tax-exemption ruling in September 1987, 39 years ago. 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 December 2023, Southbury Elderly Housing Inc reported income of $407k and spending of $630k, spending 155% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $376k to $407k (+8.3%), an average of +2.0% a year. The sharpest change came in the year to December 2020, when income rose by 74%. Over the whole period it spent 122% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Southbury Elderly Housing Inc sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 64th percentile within CT. Charities of a similar size with the same main cause include Parish Episcopal School Endowment Fund Inc ($407k), Putnam Valley Free Library ($407k) and Delaware Institute for the Arts in Education ($407k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.9% and program service revenue 99% of the total. Other salaries and wages came to $78k. At year end it held assets of $2.6m against liabilities of $3.7m, net assets of -$1.1m.

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.