Morse Elderly Housing Corporation

Analysis

Morse Elderly Housing Corporation is a registered charity in United States, based in Morse, LA. It received its IRS tax-exemption ruling in March 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending March 2023, Morse Elderly Housing Corporation reported income of $187k and spending of $223k, spending 119% of what it took in. Across the 5 years on record, from March 2019 to March 2023, income grew from $156k to $187k (+20%), an average of +4.6% a year. The sharpest change came in the year to March 2021, when income rose by 30%. Over the whole period it spent 128% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Morse Elderly Housing Corporation sits at the 36th percentile: it is larger than about 36% of them. Against every charity in United States with reported income it ranks in the 52nd percentile, and in the 51st percentile within LA. Charities of a similar size with the same main cause include Safe Place Foundation ($187k), Cranberry Isles Realty TR ($187k) and Housing Opportunities of Northern Delaware Inc ($187k).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 0.4% and program service revenue 99% of the total. Other salaries and wages came to $56k. At year end it held assets of $655k against liabilities of $129k, net assets of $525k. It reported 3 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.