Wellington Homes for Elderly Inc

Analysis

Wellington 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, Wellington Homes for Elderly Inc reported income of $79k and spending of $89k, spending 113% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $68k to $79k (+15%), an average of +3.5% a year. The sharpest change came in the year to June 2024, when income rose by 16%. Over the whole period it spent 124% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Wellington Homes for Elderly Inc sits at the 18th percentile: it is larger than about 18% of them. Against every charity in United States with reported income it ranks in the 31st percentile, and in the 30th percentile within TN. Charities of a similar size with the same main cause include Cpnj-Laurel Inc ($78k), LSS Housing Waukesha Hickory Flats Inc ($79k) and Last Chance House Inc ($78k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 41% and program service revenue 59% of the total. At year end it held assets of $261k against liabilities of $624k, net assets of -$363k.

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.