Elim Homes Inc

Analysis

Elim Homes Inc is a registered charity in United States, based in Edina, MN. It received its IRS tax-exemption ruling in October 1991, 35 years ago. 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, Elim Homes Inc reported income of $48.9m and spending of $45.2m, spending 92% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $50.1m to $48.9m (-2.5%), an average of -0.6% a year. The sharpest change came in the year to December 2023, when income rose by 38%. Over the whole period it spent 96% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Elim Homes Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within MN. Charities of a similar size with the same main cause include Odyssey House Inc-Utah ($48.8m), Northwest University ($48.9m) and Metropolitan YMCA of the Oranges Inc ($48.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.5% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $397k (0.9% of expenses). Other salaries and wages came to $28.2m. At year end it held assets of $46.1m against liabilities of $17.4m, net assets of $28.7m. It reported 959 employees.