Stanford Homes for Elderly Inc

Analysis

Stanford Homes for Elderly Inc is a registered charity in United States, based in Morristown, TN. It received its IRS tax-exemption ruling in May 2002, 24 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, Stanford Homes for Elderly Inc reported income of $170k and spending of $252k, spending 148% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $180k to $170k (-5.4%), an average of -1.4% a year. Over the whole period it spent 136% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Stanford Homes for Elderly Inc sits at the 34th percentile: it is larger than about 34% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 51st percentile within TN. Charities of a similar size with the same main cause include Homes for the Exceptional II Inc ($170k), Kaniksu Village ($171k) and Shelter From the Storm ($170k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 26% and program service revenue 74% of the total. At year end it held assets of $1.5m against liabilities of $2.7m, net assets of -$1.2m.

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.