East Tennessee Homes for Elderly

Analysis

East Tennessee Homes for Elderly is a registered charity in United States, based in Morristown, TN. It received its IRS tax-exemption ruling in June 1991, 35 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, East Tennessee Homes for Elderly reported income of $539k and spending of $570k, spending 106% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $545k to $539k (-1.2%), an average of -0.3% a year. Over the whole period it spent 107% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, East Tennessee Homes for Elderly sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 73rd percentile within TN. Charities of a similar size with the same main cause include Presbyterian Homes of Lehigh Acres Inc ($539k), Lutheran Housing Services Number 3incorporated ($539k) and Northumberland Borough Housing Corporation ($539k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 52% and program service revenue 48% of the total. At year end it held assets of $1.8m against liabilities of $2.9m, net assets of -$1.1m.

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.