Woodbridge Homes for Elderly Inc

Analysis

Woodbridge Homes for Elderly Inc is a registered charity in United States, based in Morristown, TN. It received its IRS tax-exemption ruling in August 1997, 29 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 December 2023, Woodbridge Homes for Elderly Inc reported income of $133k and spending of $144k, spending 108% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $129k to $133k (+2.7%), an average of +0.7% a year. Over the whole period it spent 114% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Woodbridge Homes for Elderly Inc sits at the 29th percentile: it is larger than about 29% of them. Against every charity in United States with reported income it ranks in the 44th percentile, and in the 44th percentile within TN. Charities of a similar size with the same main cause include Taylor Family Housing Inc ($133k), Draymont Housing Corporation ($133k) and Heritage Village of Barling Inc ($133k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 34% and program service revenue 66% of the total. At year end it held assets of $709k against liabilities of $1.2m, net assets of -$528k.

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.