Sierra Homes for Elderly Inc

Analysis

Sierra Homes for Elderly Inc is a registered charity in United States, based in Morristown, TN. It received its IRS tax-exemption ruling in February 1995, 31 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, Sierra Homes for Elderly Inc reported income of $141k and spending of $174k, spending 123% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $133k to $141k (+6.2%), an average of +1.5% 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, Sierra Homes for Elderly Inc sits at the 30th percentile: it is larger than about 30% of them. Against every charity in United States with reported income it ranks in the 46th percentile, and in the 46th percentile within TN. Charities of a similar size with the same main cause include Veterans Offgrid Inc ($141k), Newburyport Affordable Housing Corporation ($141k) and Enfield People for People Inc ($141k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 35% and program service revenue 65% of the total. At year end it held assets of $549k against liabilities of $1.2m, net assets of -$622k.

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.