Holly Way Elderly Housing Inc
EIN: 571100123 · Greenville, SC · NTEE: L22
| Metric | Value |
|---|---|
| Total Revenue | $181K |
| Total Expenses | $166K |
| Net Assets | $803K |
Is Holly Way Elderly Housing Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Holly Way Elderly Housing Inc
Holly Way Elderly Housing Inc (EIN: 571100123) is a nonprofit organization based in Greenville, SC, classified under NTEE code L22. The organization reported total revenue of $181K and total assets of $766K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Holly Way Elderly Housing Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Holly Way Elderly Housing Inc is a small nonprofit that has been operating for 26 years, with 12 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of 5.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $166K |
| Total Expenses | $166K |
| Surplus / Deficit | +$483 |
| Total Assets | $822K |
| Total Liabilities | $19K |
| Net Assets | $803K |
| Operating Margin | 0.3% |
| Debt-to-Asset Ratio | 2.3% |
| Months of Reserves | 59.4 months |
Financial Health Grade: A
In 2023, Holly Way Elderly Housing Inc reported a surplus of $483 with revenue exceeding expenses, holds 59.4 months of operating reserves (strong position), has a debt-to-asset ratio of 2.3% (very low leverage).
Financial Trends
Over 12 years of filings (2012–2023), Holly Way Elderly Housing Inc's revenue has grown at a compound annual growth rate (CAGR) of 5.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -4.8% | +9.1% | +0.1% |
| 2022 | +10.2% | +1.3% | +2.8% |
| 2021 | -0.1% | +1.0% | +0.7% |
| 2020 | +11.2% | -6.9% | +2.2% |
| 2019 | +18.6% | +29.1% | -2.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2000 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Holly Way Elderly Housing Inc has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Holly Way Elderly Housing Inc with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $483, with revenue exceeding expenses.
- Debt-to-asset ratio: 2.3%.
Frequently Asked Questions about Holly Way Elderly Housing Inc
Is Holly Way Elderly Housing Inc a legitimate charity?
Holly Way Elderly Housing Inc (EIN: 571100123) is a registered tax-exempt nonprofit based in South Carolina. It has 12 years of IRS 990 filings on record. Total revenue: $181K. No red flags identified. Financial health grade: A.
How does Holly Way Elderly Housing Inc spend its money?
Holly Way Elderly Housing Inc reported $181K in total revenue in IRS 990 filings. 12 years of filing data available. Revenue exceeded expenses in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Holly Way Elderly Housing Inc tax-deductible?
Holly Way Elderly Housing Inc is registered as a tax-exempt nonprofit (EIN: 571100123). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Holly Way Elderly Housing Inc located?
Holly Way Elderly Housing Inc is headquartered in Greenville, South Carolina and files with the IRS under EIN 571100123. It is classified under NTEE code L22.
How many years of IRS 990 filings does Holly Way Elderly Housing Inc have?
Holly Way Elderly Housing Inc has 12 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $181K in total revenue.
Filing History
IRS 990 filing history for Holly Way Elderly Housing Inc showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2023), Holly Way Elderly Housing Inc's revenue has grown by 87.6%, moving from $89K to $166K. Total assets decreased by 9.9% over the same period, from $912K to $822K. Total functional expenses rose by 57%, from $106K to $166K. In its most recent filing year (2023), Holly Way Elderly Housing Inc reported a surplus of $483, with revenue exceeding expenses. The organization holds $19K in liabilities against $822K in assets (debt-to-asset ratio: 2.3%), resulting in net assets of $803K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $166K | $166K | $822K | $19K | — | View 990 |
| 2022 | $175K | $152K | $821K | $19K | — | View 990 |
| 2021 | $159K | $150K | $799K | $19K | — | — |
| 2020 | $159K | $149K | $794K | $22K | — | View 990 |
| 2019 | $143K | $160K | $777K | $15K | — | View 990 |
| 2018 | $120K | $124K | $793K | $15K | — | — |
| 2017 | $96K | $126K | $795K | $1.1M | — | View 990 |
| 2016 | $90K | $114K | $822K | $1.1M | — | View 990 |
| 2015 | $88K | $114K | $845K | $1.1M | — | View 990 |
| 2014 | $87K | $108K | $875K | $1.1M | — | View 990 |
| 2013 | $88K | $106K | $894K | $1.1M | — | View 990 |
| 2012 | $89K | $106K | $912K | $1.1M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $166K, expenses of $166K, and assets of $822K (revenue -4.8% year-over-year).
- 2022: Revenue of $175K, expenses of $152K, and assets of $821K (revenue +10.2% year-over-year).
- 2021: Revenue of $159K, expenses of $150K, and assets of $799K (revenue -0.1% year-over-year).
- 2020: Revenue of $159K, expenses of $149K, and assets of $794K (revenue +11.2% year-over-year).
- 2019: Revenue of $143K, expenses of $160K, and assets of $777K (revenue +18.6% year-over-year).
- 2018: Revenue of $120K, expenses of $124K, and assets of $793K (revenue +25.8% year-over-year).
- 2017: Revenue of $96K, expenses of $126K, and assets of $795K (revenue +6.6% year-over-year).
- 2016: Revenue of $90K, expenses of $114K, and assets of $822K (revenue +2.1% year-over-year).
- 2015: Revenue of $88K, expenses of $114K, and assets of $845K (revenue +0.9% year-over-year).
- 2014: Revenue of $87K, expenses of $108K, and assets of $875K (revenue -0.9% year-over-year).
- 2013: Revenue of $88K, expenses of $106K, and assets of $894K (revenue -1.0% year-over-year).
- 2012: Revenue of $89K, expenses of $106K, and assets of $912K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Holly Way Elderly Housing Inc:
Data Sources and Methodology
This transparency report for Holly Way Elderly Housing Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.