Elderly Housing Development and Operations Corporation

Analysis

Elderly Housing Development and Operations Corporation is a registered charity in United States, based in Plantation, FL. It received its IRS tax-exemption ruling in February 2009, 17 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 2023, Elderly Housing Development and Operations Corporation reported income of $6.9m and spending of $9.9m, spending 143% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.9m to $6.9m (+77%), an average of +15% a year. The sharpest change came in the year to June 2020, when income rose by 175%. Over the whole period it spent 74% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Elderly Housing Development and Operations Corporation sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within FL. Charities of a similar size with the same main cause include Davids House Ministries ($6.9m), Kingspath Senior Ministries Inc ($6.9m) and Habitat for Humanity International Inc ($6.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.7% and program service revenue 81% of the total. Compensation of current officers, directors and key employees was $477k (4.8% of expenses). Other salaries and wages came to $2.5m. At year end it held assets of $61.2m against liabilities of $11.0m, net assets of $50.2m. It reported 49 employees.