Rockland Street Elderly Housing Inc

Analysis

Rockland Street Elderly Housing Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in June 2007, 19 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 June 2023, Rockland Street Elderly Housing Inc reported income of $540k and spending of $766k, spending 142% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $441k to $540k (+22%), an average of +5.2% a year. The sharpest change came in the year to June 2023, when income rose by 32%. Over the whole period it spent 152% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Rockland Street Elderly Housing Inc sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 72nd percentile within MA. Charities of a similar size with the same main cause include Meadow Park Independent Living Inc ($540k), Cedar Lane Senior Living Community III Inc ($541k) and Working for Independent Living Inc ($540k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $6.4m against liabilities of $9.2m, net assets of -$2.8m.

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.