Elim Senior Housing Inc

Analysis

Elim Senior Housing Inc is a registered charity in United States, based in Edina, MN. It received its IRS tax-exemption ruling in February 2016, 10 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 December 2023, Elim Senior Housing Inc reported income of $10.9m and spending of $11.5m, spending 106% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.6m to $10.9m (+587%), an average of +62% a year. The sharpest change came in the year to December 2020, when income rose by 238%. Over the whole period it spent 148% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Elim Senior Housing Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within MN. Charities of a similar size with the same main cause include PHS Founders Ridge Inc ($10.9m), Heartland Senior Living ($10.9m) and Life Enriching Communities ($10.8m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 97% of the total. Other salaries and wages came to $3.5m. At year end it held assets of $41.4m against liabilities of $54.4m, net assets of -$13.0m. It reported 181 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.