Elderly Housing Development and Operations Corporation

Analysis

Elderly Housing Development and Operations Corporation is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in January 2024, 2 years ago. 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 June 2021, Elderly Housing Development and Operations Corporation reported income of $398k and spending of $599k, spending 150% of what it took in. Across the 5 years on record, from June 2014 to June 2021, income grew from $263k to $398k (+51%), an average of +11% a year. The sharpest change came in the year to June 2019, when income rose by 37%. Over the whole period it spent 150% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Elderly Housing Development and Operations Corporation 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 66th percentile within IL. Charities of a similar size with the same main cause include Youth for Christ USA Inc ($398k), Jewish Learning Connection Inc ($398k) and United States Dist Court for the Northern Dist of Ca Hist Socty ($398k).

On its Form 990 for the period ending June 2021, revenue came from program service revenue 99% of the total. Other salaries and wages came to $125k. At year end it held assets of $5.2m against liabilities of $668k, net assets of $4.5m. It reported 4 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.