Elizabeth Lake Nonprofit Housing Corporation

Analysis

Elizabeth Lake Nonprofit Housing Corporation is a registered charity in United States, based in Troy, MI. It received its IRS tax-exemption ruling in June 2002, 24 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 December 2023, Elizabeth Lake Nonprofit Housing Corporation reported income of $280k and spending of $322k, spending 115% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $273k to $280k (+2.5%), an average of +0.6% a year. 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, Elizabeth Lake Nonprofit Housing Corporation sits at the 45th percentile: it is larger than about 44% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 60th percentile within MI. Charities of a similar size with the same main cause include Occupy Madison Inc ($280k), Housing Opportunities for Musicians and Entertainers ($280k) and Montgomery Housing Partnership Inc ($280k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 49% and program service revenue 51% of the total. At year end it held assets of $2.6m against liabilities of $3.2m, net assets of -$649k.

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.