Horizon Homes for Elderly Inc

Analysis

Horizon Homes for Elderly Inc is a registered charity in United States, based in Morristown, TN. It received its IRS tax-exemption ruling in March 1999, 27 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, Horizon Homes for Elderly Inc reported income of $104k and spending of $142k, spending 137% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $154k to $104k (-33%), an average of -9.4% a year. The sharpest change came in the year to December 2020, when income dropped by 31%. Over the whole period it spent 107% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Horizon Homes for Elderly Inc sits at the 23rd percentile: it is larger than about 23% of them. Against every charity in United States with reported income it ranks in the 38th percentile, and in the 37th percentile within TN. Charities of a similar size with the same main cause include Venture Villa Inc ($104k), Ninth Ward Housing Development Corporation ($104k) and Jonquil Development Corporation ($104k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 10% and program service revenue 90% of the total. At year end it held assets of $653k against liabilities of $1.1m, net assets of -$426k.

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.