Highland Homes for Elderly Inc

Analysis

Highland Homes for Elderly Inc is a registered charity in United States, based in Morristown, TN. It received its IRS tax-exemption ruling in March 2011, 15 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 June 2024, Highland Homes for Elderly Inc reported income of $60k and spending of $90k, spending 149% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $48k to $60k (+24%), an average of +5.6% a year. Over the whole period it spent 157% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Highland Homes for Elderly Inc sits at the 13th percentile: it is larger than about 13% of them. Against every charity in United States with reported income it ranks in the 24th percentile, and in the 22nd percentile within TN. Charities of a similar size with the same main cause include Deland Development Corporation ($60k), Rogersville Senior Citizens Housing Project Inc ($60k) and Forest Park Project Inc ($60k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 22% and program service revenue 78% of the total. At year end it held assets of $989k against liabilities of $1.2m, net assets of -$227k.

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.