Gering Elderly Housing Corporation

Analysis

Gering Elderly Housing Corporation is a registered charity in United States, based in Gering, NE. It received its IRS tax-exemption ruling in August 1991, 35 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 June 2024, Gering Elderly Housing Corporation reported income of $176k and spending of $156k, spending 89% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $151k to $176k (+17%), an average of +4.0% a year. Over the whole period it spent 97% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Gering Elderly Housing Corporation sits at the 35th percentile: it is larger than about 35% of them. Against every charity in United States with reported income it ranks in the 51st percentile, and in the 49th percentile within NE. Charities of a similar size with the same main cause include Divine Providence Apartments Inc ($176k), Woodside Village III Inc ($176k) and Western Developments for Affordable Housing Inc ($176k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 27% and program service revenue 72% of the total. Other salaries and wages came to $14k. At year end it held assets of $312k against liabilities of $976k, net assets of -$664k. It reported 3 employees.