Cornwall Elderly Housing Corporation

Analysis

Cornwall Elderly Housing Corporation is a registered charity in United States, based in Cornwall, CT. It received its IRS tax-exemption ruling in October 2015, 11 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 2023, Cornwall Elderly Housing Corporation reported income of $196k and spending of $252k, spending 129% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $158k to $196k (+24%), an average of +7.4% a year. The sharpest change came in the year to June 2023, when income rose by 17%. Over the whole period it spent 139% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Cornwall Elderly Housing Corporation sits at the 37th percentile: it is larger than about 37% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 51st percentile within CT. Charities of a similar size with the same main cause include Freedom West Community Development Corporation ($196k), Deaf Senior Retirement Corporation ($196k) and Church Alliance of Millbrook Housing Development Inc ($196k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $27k. At year end it held assets of $2.6m against liabilities of $54k, net assets of $2.5m.

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.