Townsend Elderly Residences Inc

Analysis

Townsend Elderly Residences Inc is a registered charity in United States, based in Worcester, MA. It received its IRS tax-exemption ruling in September 1985, 41 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 October 2023, Townsend Elderly Residences Inc reported income of $725k and spending of $676k, spending 93% of its income. Across the 5 years on record, from October 2019 to October 2023, income grew from $649k to $725k (+12%), an average of +2.8% a year. Over the whole period it spent 99% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Townsend Elderly Residences Inc sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 75th percentile within MA. Charities of a similar size with the same main cause include Living in Liberty ($724k), Estancias Del Angel Presbiteriana Inc ($725k) and The Lotus Campaign Inc ($724k).

On its Form 990 for the period ending October 2023, revenue came from contributions and grants 65% and program service revenue 35% of the total. At year end it held assets of $1.4m against liabilities of $2.7m, net assets of -$1.3m.