Older American Housing in Spotswood Inc

Analysis

Older American Housing in Spotswood Inc is a registered charity in United States, based in Spotswood, NJ. It received its IRS tax-exemption ruling in August 1993, 33 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, Older American Housing in Spotswood Inc reported income of $1.6m and spending of $1.9m, spending 122% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.3m to $1.6m (+18%), an average of +4.1% a year. The sharpest change came in the year to December 2022, when income rose by 22%. Over the whole period it spent 111% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Older American Housing in Spotswood Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 86th percentile within NJ. Charities of a similar size with the same main cause include Second Westfield Senior Citizens Housing Corporation ($1.5m), Habitat for Humanity International Inc ($1.6m) and Greater Minnesota Management ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 96% of the total. Compensation of current officers, directors and key employees was $268k (14% of expenses). Other salaries and wages came to $132k. At year end it held assets of $3.1m against liabilities of $157k, net assets of $2.9m. It reported 13 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.