Appalachian Homes for Elderly Inc

Analysis

Appalachian Homes for Elderly Inc is a registered charity in United States, based in Morristown, TN. It received its IRS tax-exemption ruling in January 1998, 28 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending March 2024, Appalachian Homes for Elderly Inc reported income of $175k and spending of $232k, spending 133% of what it took in. Across the 5 years on record, from March 2020 to March 2024, income grew from $165k to $175k (+5.9%), an average of +1.4% a year. Over the whole period it spent 133% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Appalachian 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 51st percentile, and in the 52nd percentile within TN. Charities of a similar size with the same main cause include Harc III Housing Inc ($174k), Bma Inc 12-12-94 ($175k) and Meadow Brook Apartments ($174k).

On its Form 990 for the period ending March 2024, revenue came from contributions and grants 7.3% and program service revenue 93% of the total. At year end it held assets of $1.1m against liabilities of $2.1m, net assets of -$989k.

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.