Elderly Housing Inc

Analysis

Elderly Housing Inc is a registered charity in United States, based in Charleston, SC. It received its IRS tax-exemption ruling in November 1997, 29 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Elderly Housing Inc reported income of $559k and spending of $725k, spending 130% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $490k to $559k (+14%), an average of +3.4% a year. Over the whole period it spent 117% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Elderly Housing Inc sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 76th percentile within SC. Charities of a similar size with the same main cause include Camp Hill Square Development Corporation ($559k), Greenline Housing Foundation ($559k) and Housing Leadership Council of San Mateo County ($559k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 62% and program service revenue 38% of the total. Other salaries and wages came to $193k. At year end it held assets of $3.4m against liabilities of $3.1m, net assets of $332k. It reported 21 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.