Elderly Housing Development and Operations Corporation

Analysis

Elderly Housing Development and Operations Corporation is a registered charity in United States, based in Plantation, FL. It received its IRS tax-exemption ruling in February 2009, 17 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 September 2023, Elderly Housing Development and Operations Corporation reported income of $480k and spending of $617k, spending 129% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $420k to $480k (+14%), an average of +3.4% a year. Over the whole period it spent 137% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Elderly Housing Development and Operations Corporation sits at the 57th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 72nd percentile within FL. Charities of a similar size with the same main cause include Geel East 182nd Street Corporation ($480k), Regency Retirement Residence of Laramie ($480k) and Southfair Community Development Corporation ($480k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 0.9% and program service revenue 98% of the total. Other salaries and wages came to $116k. At year end it held assets of $3.8m against liabilities of $1.7m, net assets of $2.1m. It reported 5 employees.

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.