Essex Elderly & Affordable Housing

Analysis

Essex Elderly & Affordable Housing is a registered charity in United States, based in Centerbrook, CT. It received its IRS tax-exemption ruling in November 2015, 11 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, Essex Elderly & Affordable Housing reported income of $270k and spending of $364k, spending 135% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income grew from $180k to $270k (+50%), an average of +22% a year. The sharpest change came in the year to December 2022, when income rose by 45%. Over the whole period it spent 141% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Essex Elderly & Affordable Housing sits at the 44th 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 57th percentile within CT. Charities of a similar size with the same main cause include Rebuilding Together Indianapolis Inc ($270k), Apartments of River Trace Inc ($270k) and Plazas de Merced ($269k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $5.3m against liabilities of $5.3m, net assets of -$12k.

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.