New Meadow Elderly Housing Inc

Analysis

New Meadow Elderly Housing Inc is a registered charity in United States, based in North Haven, CT. It received its IRS tax-exemption ruling in February 2010, 16 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, New Meadow Elderly Housing Inc reported income of $653k and spending of $665k, spending 102% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $402k to $653k (+62%), an average of +13% a year. The sharpest change came in the year to September 2023, when income rose by 62%. Over the whole period it spent 128% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, New Meadow Elderly Housing Inc sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 72nd percentile within CT. Charities of a similar size with the same main cause include A Malcolm Housing Development Fund Corporation ($653k), Helix Steam Properties ($654k) and Multi-County Builders ($653k).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 66% of the total. Other salaries and wages came to $88k. At year end it held assets of $5.6m against liabilities of $5.3m, net assets of $251k.

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.