Volunteer Homes for Elderly

Analysis

Volunteer Homes for Elderly is a registered charity in United States, based in Morristown, TN. It received its IRS tax-exemption ruling in May 1986, 40 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 September 2023, Volunteer Homes for Elderly reported income of $872k and spending of $842k, spending 97% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $752k to $872k (+16%), an average of +3.8% a year. Over the whole period it spent 98% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Volunteer Homes for Elderly sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 79th percentile within TN. Charities of a similar size with the same main cause include Open Arms Village Inc ($872k), U M Army ($872k) and Homes of Montclair Ecumenical Corp ($871k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 50% and program service revenue 50% of the total. At year end it held assets of $2.7m against liabilities of $3.8m, net assets of -$1.1m.