Deforest Elderly Housing Owner Corporation

Analysis

Deforest Elderly Housing Owner Corporation is a registered charity in United States, based in Deforest, WI. It received its IRS tax-exemption ruling in November 1996, 30 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, Deforest Elderly Housing Owner Corporation reported income of $138k and spending of $168k, spending 122% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $127k to $138k (+8.9%), an average of +2.1% a year. The sharpest change came in the year to December 2022, when income rose by 17%. Over the whole period it spent 118% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Deforest Elderly Housing Owner Corporation sits at the 29th percentile: it is larger than about 29% of them. Against every charity in United States with reported income it ranks in the 45th percentile, and in the 44th percentile within WI. Charities of a similar size with the same main cause include Hampton Woods Retirement Community Inc ($138k), Coyne Road Inc ($138k) and Centennial Supportive Housing Center ($138k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 51% and program service revenue 48% of the total. Other salaries and wages came to $32k. At year end it held assets of $893k against liabilities of $1.4m, net assets of -$497k. It reported 4 employees.

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.