Waterford Homes for Elderly Inc

Analysis

Waterford Homes for Elderly Inc is a registered charity in United States, based in Morristown, TN. It received its IRS tax-exemption ruling in January 2001, 25 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 March 2024, Waterford Homes for Elderly Inc reported income of $184k and spending of $235k, spending 128% of what it took in. Across the 5 years on record, from March 2020 to March 2024, income grew from $170k to $184k (+8.0%), an average of +2.0% a year. Over the whole period it spent 123% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Waterford Homes for Elderly Inc sits at the 36th percentile: it is larger than about 36% of them. Against every charity in United States with reported income it ranks in the 52nd percentile, and in the 53rd percentile within TN. Charities of a similar size with the same main cause include Wisconsin Good Samaritan Housing Inc ($184k), Asi Helena Inc ($184k) and Lakemary Center Homes Inc ($184k).

On its Form 990 for the period ending March 2024, revenue came from contributions and grants 13% and program service revenue 87% of the total. At year end it held assets of $1.3m against liabilities of $2.2m, net assets of -$881k.

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.