Monticello Homes For Elderly Inc
Monticello Homes For Elderly Inc faces persistent operating deficits and negative net assets.
EIN: 204420636 · Morristown, TN · NTEE: L22 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $79K |
| Total Expenses | $131K |
| Program Spending | 80% |
| Net Assets | $-423,283 |
| Transparency Score | 55/100 |
Is Monticello Homes For Elderly Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Monticello Homes For Elderly Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Monticello Homes For Elderly Inc
Monticello Homes For Elderly Inc (EIN: 204420636) is a nonprofit organization based in Morristown, TN, classified under NTEE code L22. The organization reported total revenue of $79K and total assets of $1.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Monticello Homes For Elderly Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Monticello Homes For Elderly Inc is a micro nonprofit that has been operating for 19 years, with 13 years of IRS 990 filings on record (2012–2024). Revenue has grown at a compound annual rate of 2.4%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $75K |
| Total Expenses | $131K |
| Surplus / Deficit | $-55,251 |
| Total Assets | $1.1M |
| Total Liabilities | $1.5M |
| Net Assets | $-423,283 |
| Operating Margin | -73.4% |
| Debt-to-Asset Ratio | 138.7% |
| Months of Reserves | 100.5 months |
Financial Health Grade: C
In 2024, Monticello Homes For Elderly Inc reported a deficit of $55K with expenses exceeding revenue, holds 100.5 months of operating reserves (strong position), has a debt-to-asset ratio of 138.7% (high leverage).
Financial Trends
Over 13 years of filings (2012–2024), Monticello Homes For Elderly Inc's revenue has grown at a compound annual growth rate (CAGR) of 2.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | -2.5% | +15.9% | -7.5% |
| 2023 | -0.5% | +5.7% | +0.3% |
| 2022 | +1.2% | +2.8% | -2.8% |
| 2021 | +10.6% | +6.5% | -2.0% |
| 2020 | -5.2% | -4.3% | -2.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2007 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Monticello Homes For Elderly Inc with a Mission Score of 55 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 20%
- programs: 80%
- fundraising: 0%
According to IRS 990 filings, Monticello Homes For Elderly Inc allocates its expenses as follows: admin: 20%, programs: 80%, fundraising: 0%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $55K, with expenses exceeding revenue.
- Debt-to-asset ratio: 138.7%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no salaries or other compensation are paid to its officers. This suggests a volunteer-led executive structure, which is a positive for minimizing administrative costs relative to its size and revenue.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Monticello Homes For Elderly Inc's IRS 990 filings:
- Consistent operating deficits (e.g., $55,251 in 2024)
- Liabilities consistently exceed assets (e.g., $1,516,012 liabilities vs. $1,092,729 assets in 2024)
- Declining asset base over time (from $1,373,514 in 2015 to $1,092,729 in 2024)
- Negative net asset position
Strengths
The following positive indicators were identified for Monticello Homes For Elderly Inc:
- No officer compensation reported, indicating volunteer leadership or very low executive overhead.
- Clear mission focus on housing for the elderly (NTEE L22).
Frequently Asked Questions about Monticello Homes For Elderly Inc
Is Monticello Homes For Elderly Inc a legitimate charity?
Monticello Homes For Elderly Inc (EIN: 204420636) is a registered tax-exempt nonprofit based in Tennessee. Our AI analysis gives it a Mission Score of 55/100. It has 13 years of IRS 990 filings on record. Total revenue: $79K. 4 red flags identified. 2 strengths noted. Financial health grade: C.
How does Monticello Homes For Elderly Inc spend its money?
Monticello Homes For Elderly Inc directs 80% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Monticello Homes For Elderly Inc tax-deductible?
Monticello Homes For Elderly Inc is registered as a tax-exempt nonprofit (EIN: 204420636). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Monticello Homes For Elderly Inc compare to similar nonprofits?
With a transparency score of 55/100 (Fair), Monticello Homes For Elderly Inc is near average for NTEE category L22 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Monticello Homes For Elderly Inc located?
Monticello Homes For Elderly Inc is headquartered in Morristown, Tennessee and files with the IRS under EIN 204420636. It is classified under NTEE code L22.
How many years of IRS 990 filings does Monticello Homes For Elderly Inc have?
Monticello Homes For Elderly Inc has 13 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 $79K in total revenue.
Is Monticello Homes For Elderly Inc financially sustainable?
Based on the consistent operating deficits (e.g., $55,251 in 2024) and liabilities significantly exceeding assets ($1,516,012 vs. $1,092,729 in 2024), the organization's financial sustainability appears to be at risk.
What is the primary cause of the organization's operating deficits?
The provided data shows expenses consistently exceeding revenue (e.g., $130,530 expenses vs. $75,279 revenue in 2024), but without a detailed breakdown of expense categories, the specific drivers of these deficits cannot be identified.
How does the organization plan to address its negative net asset position?
The organization has consistently reported liabilities greater than assets for many years. The filings do not provide details on strategies to improve its net asset position or address its long-term solvency.
Filing History
IRS 990 filing history for Monticello Homes For Elderly Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2012–2024), Monticello Homes For Elderly Inc's revenue has grown by 33.3%, moving from $56K to $75K. Total assets decreased by 25.3% over the same period, from $1.5M to $1.1M. Total functional expenses rose by 55.3%, from $84K to $131K. In its most recent filing year (2024), Monticello Homes For Elderly Inc reported a deficit of $55K, with expenses exceeding revenue. The organization holds $1.5M in liabilities against $1.1M in assets (debt-to-asset ratio: 138.7%), resulting in net assets of $-423,283.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $75K | $131K | $1.1M | $1.5M | — | — |
| 2023 | $77K | $113K | $1.2M | $1.5M | — | View 990 |
| 2022 | $78K | $107K | $1.2M | $1.5M | — | — |
| 2021 | $77K | $104K | $1.2M | $1.5M | — | — |
| 2020 | $69K | $97K | $1.2M | $1.5M | — | View 990 |
| 2019 | $73K | $102K | $1.3M | $1.5M | — | View 990 |
| 2018 | $70K | $93K | $1.3M | $1.5M | — | View 990 |
| 2017 | $64K | $96K | $1.3M | $1.5M | — | View 990 |
| 2016 | $62K | $89K | $1.3M | $1.5M | — | View 990 |
| 2015 | $57K | $89K | $1.4M | $1.5M | — | View 990 |
| 2014 | $58K | $88K | $1.4M | $1.5M | — | View 990 |
| 2013 | $58K | $89K | $1.4M | $1.5M | — | View 990 |
| 2012 | $56K | $84K | $1.5M | $1.5M | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $75K, expenses of $131K, and assets of $1.1M (revenue -2.5% year-over-year).
- 2023: Revenue of $77K, expenses of $113K, and assets of $1.2M (revenue -0.5% year-over-year).
- 2022: Revenue of $78K, expenses of $107K, and assets of $1.2M (revenue +1.2% year-over-year).
- 2021: Revenue of $77K, expenses of $104K, and assets of $1.2M (revenue +10.6% year-over-year).
- 2020: Revenue of $69K, expenses of $97K, and assets of $1.2M (revenue -5.2% year-over-year).
- 2019: Revenue of $73K, expenses of $102K, and assets of $1.3M (revenue +4.9% year-over-year).
- 2018: Revenue of $70K, expenses of $93K, and assets of $1.3M (revenue +8.8% year-over-year).
- 2017: Revenue of $64K, expenses of $96K, and assets of $1.3M (revenue +3.3% year-over-year).
- 2016: Revenue of $62K, expenses of $89K, and assets of $1.3M (revenue +8.3% year-over-year).
- 2015: Revenue of $57K, expenses of $89K, and assets of $1.4M (revenue -1.7% year-over-year).
- 2014: Revenue of $58K, expenses of $88K, and assets of $1.4M (revenue +1.1% year-over-year).
- 2013: Revenue of $58K, expenses of $89K, and assets of $1.4M (revenue +2.1% year-over-year).
- 2012: Revenue of $56K, expenses of $84K, and assets of $1.5M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Monticello Homes For Elderly Inc:
Data Sources and Methodology
This transparency report for Monticello Homes For Elderly 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.