Columbia Homes for Elderly Inc

Analysis

Columbia 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, Columbia Homes for Elderly Inc reported income of $55k and spending of $75k, spending 137% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income grew from $49k to $55k (+11%), an average of +11% a year. Over the whole period it spent 141% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Columbia Homes for Elderly Inc sits at the 12th percentile: it is larger than about 12% of them. Against every charity in United States with reported income it ranks in the 21st percentile, and in the 20th percentile within TN. Charities of a similar size with the same main cause include Albertville Housing Development Corporation ($55k), Tri County Regional Development Corporation ($55k) and Project Recovery Inc ($55k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 42% and program service revenue 58% of the total. At year end it held assets of $358k against liabilities of $624k, net assets of -$267k.