Elderhaus Incorporated

Analysis

Elderhaus Incorporated is a registered charity in United States, based in Wilmington, NC. It received its IRS tax-exemption ruling in November 1981, 45 years ago. 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 September 2023, Elderhaus Incorporated reported income of $12.6m and spending of $13.6m, spending 108% of what it took in. Across the 5 years on record, from June 2020 to September 2023, income grew from $12.0m to $12.6m (+5.5%), an average of +1.3% a year. The sharpest change came in the year to September 2021, when income rose by 265%. Over the whole period it spent 107% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Elderhaus Incorporated sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within NC. Charities of a similar size with the same main cause include Greater Columbia Accountable Community of Health ($12.6m), Benchmark School ($12.6m) and Lsa Management Inc ($12.6m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 0.5% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $120k (0.9% of expenses). Other salaries and wages came to $3.8m. At year end it held assets of $2.0m against liabilities of $4.3m, net assets of -$2.3m. It reported 120 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.