Villa Madonna South Elderly Housing Corporation

Analysis

Villa Madonna South Elderly Housing Corporation is a registered charity in United States, based in Fancy Farm, KY. It received its IRS tax-exemption ruling in April 2000, 26 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, Villa Madonna South Elderly Housing Corporation reported income of $91k and spending of $105k, spending 116% of what it took in. Across the 3 years on record, from December 2020 to December 2023, income grew from $77k to $91k (+18%), an average of +8.5% a year. The sharpest change came in the year to December 2023, when income rose by 15%. Over the whole period it spent 134% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Villa Madonna South Elderly Housing Corporation sits at the 20th percentile: it is larger than about 20% of them. Against every charity in United States with reported income it ranks in the 34th percentile, and in the 34th percentile within KY. Charities of a similar size with the same main cause include Turrell Place Apartments ($91k), Forge Flint ($91k) and Colfax Community Housing ($91k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 34% and program service revenue 59% of the total. At year end it held assets of $389k against liabilities of $778k, net assets of -$389k.

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.