Pennley Supportive Housing for the Elderly Inc

Analysis

Pennley Supportive Housing for the Elderly Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in June 2000, 26 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 August 2023, Pennley Supportive Housing for the Elderly Inc reported income of $406k and spending of $425k, spending 105% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $253k to $406k (+61%), an average of +13% a year. The sharpest change came in the year to August 2021, when income rose by 28%. Over the whole period it spent 115% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Pennley Supportive Housing for the Elderly Inc sits at the 53rd percentile: it is larger than about 53% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 68th percentile within MA. Charities of a similar size with the same main cause include St Marys Woods of Columbus Inc ($406k), Seneca Housing Inc ($406k) and Parkview Villa Inc ($406k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 66% and program service revenue 34% of the total. At year end it held assets of $2.3m against liabilities of $855k, net assets of $1.4m.

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.