Vero Beach Elderly Housing Inc

Analysis

Vero Beach Elderly Housing Inc is a registered charity in United States, based in Duluth, GA. It received its IRS tax-exemption ruling in November 1995, 31 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 June 2023, Vero Beach Elderly Housing Inc reported income of $709k and spending of $805k, spending 114% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $651k to $709k (+8.8%), an average of +2.9% a year. Over the whole period it spent 115% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Vero Beach Elderly Housing Inc sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 79th percentile within GA. Charities of a similar size with the same main cause include Edward Kline Memorial Homeless Veterans Fund ($708k), The Salvation Army Riverside Residences Inc ($709k) and United Services Housing Development Fund Corporation ($707k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $136k. At year end it held assets of $2.9m against liabilities of $57k, net assets of $2.9m.

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.