Phoenix Homes for Elderly Inc

Analysis

Phoenix Homes for Elderly Inc is a registered charity in United States, based in Morristown, TN. It received its IRS tax-exemption ruling in February 1996, 30 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 2024, Phoenix Homes for Elderly Inc reported income of $167k and spending of $199k, spending 120% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income fell from $174k to $167k (-4.3%), an average of -1.1% a year. Over the whole period it spent 120% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Phoenix Homes for Elderly Inc sits at the 33rd percentile: it is larger than about 33% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 51st percentile within TN. Charities of a similar size with the same main cause include Oaks Ministry ($167k), Lathrop Senior Citizens Housing Project Inc ($167k) and Asi Rogers Inc ($167k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 29% and program service revenue 71% of the total. At year end it held assets of $821k against liabilities of $1.6m, net assets of -$743k.

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.