Portage Homes For Elderly Inc
Portage Homes For Elderly Inc consistently operates at a deficit, drawing down assets while maintaining high liabilities.
EIN: 204698478 · Morristown, TN · NTEE: L22 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $100K |
| Total Expenses | $130K |
| Program Spending | 80% |
| CEO/Top Officer Pay | $1.2 |
| Net Assets | $-571,378 |
| Transparency Score | 45/100 |
Is Portage Homes For Elderly Inc Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Portage Homes For Elderly Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Portage Homes For Elderly Inc
Portage Homes For Elderly Inc (EIN: 204698478) is a nonprofit organization based in Morristown, TN, classified under NTEE code L22. The organization reported total revenue of $100K and total assets of $1.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Portage Homes For Elderly Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Portage Homes For Elderly Inc is a micro nonprofit that has been operating for 19 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 1.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $94K |
| Total Expenses | $130K |
| Surplus / Deficit | $-35,669 |
| Total Assets | $1.3M |
| Total Liabilities | $1.9M |
| Net Assets | $-571,378 |
| Operating Margin | -37.9% |
| Debt-to-Asset Ratio | 143.2% |
| Months of Reserves | 122.4 months |
Financial Health Grade: C
In 2023, Portage Homes For Elderly Inc reported a deficit of $36K with expenses exceeding revenue, holds 122.4 months of operating reserves (strong position), has a debt-to-asset ratio of 143.2% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Portage Homes For Elderly Inc's revenue has grown at a compound annual growth rate (CAGR) of 1.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -0.3% | -9.5% | -2.7% |
| 2022 | +8.1% | +8.0% | -3.3% |
| 2021 | +2.6% | +1.0% | -3.1% |
| 2020 | +1.8% | +7.9% | -3.2% |
| 2019 | +0.4% | +0.1% | -2.4% |
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 Portage Homes For Elderly Inc with a Mission Score of 45 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Portage Homes For Elderly Inc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $36K, with expenses exceeding revenue.
- Debt-to-asset ratio: 143.2%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that the organization's leadership is entirely volunteer-based, which is commendable for an organization of its size with over $1.2 million in assets.
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 Portage Homes For Elderly Inc's IRS 990 filings:
- Consistent operational deficits (e.g., $35,669 in 2023) where expenses significantly exceed revenue.
- Declining asset base over time, from $1,701,584 in 2014 to $1,323,594 in 2023.
- High and stable liabilities (around $1.89 million) relative to declining assets, indicating potential solvency issues.
- Negative net income for all reported periods, suggesting an unsustainable financial model without external intervention or significant changes.
Strengths
The following positive indicators were identified for Portage Homes For Elderly Inc:
- No reported officer compensation, indicating volunteer leadership and potentially lower administrative costs.
- Consistent filing of IRS Form 990s, demonstrating a commitment to regulatory transparency.
- Long operational history with 13 filings, suggesting established presence in the community.
Frequently Asked Questions about Portage Homes For Elderly Inc
Is Portage Homes For Elderly Inc a legitimate charity?
Portage Homes For Elderly Inc (EIN: 204698478) is a registered tax-exempt nonprofit based in Tennessee. Our AI analysis gives it a Mission Score of 45/100. It has 13 years of IRS 990 filings on record. Total revenue: $100K. 4 red flags identified. 3 strengths noted. Financial health grade: C.
How does Portage Homes For Elderly Inc spend its money?
Portage Homes For Elderly Inc directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Portage Homes For Elderly Inc tax-deductible?
Portage Homes For Elderly Inc is registered as a tax-exempt nonprofit (EIN: 204698478). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Portage Homes For Elderly Inc CEO make?
Portage Homes For Elderly Inc's highest-compensated officer earns $1.2 annually. The organization reported $100K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Portage Homes For Elderly Inc's spending goes to programs?
Portage Homes For Elderly Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Portage Homes For Elderly Inc compare to similar nonprofits?
With a transparency score of 45/100 (Fair), Portage 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 Portage Homes For Elderly Inc located?
Portage Homes For Elderly Inc is headquartered in Morristown, Tennessee and files with the IRS under EIN 204698478. It is classified under NTEE code L22.
How many years of IRS 990 filings does Portage Homes For Elderly Inc have?
Portage 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 $100K in total revenue.
How does Portage Homes For Elderly Inc cover its consistent operational deficits?
The organization consistently reports expenses exceeding revenue, leading to deficits (e.g., $35,669 in 2023). This gap appears to be covered by drawing down assets, which have decreased from $1,701,584 in 2014 to $1,323,594 in 2023, or by maintaining high liabilities, which have remained around $1.89 million.
What is the long-term financial strategy given the declining assets and high liabilities?
The consistent decline in assets and persistent high liabilities suggest a need for a clear long-term financial strategy to ensure sustainability. Without additional information, it's unclear how the organization plans to address these trends.
What are the primary sources of revenue for the organization?
The provided data only shows total revenue, which has fluctuated but remained relatively stable (e.g., $94,095 in 2023). A breakdown of revenue sources (e.g., program service revenue, contributions, investment income) would be necessary for a more complete understanding.
What percentage of expenses are allocated to program services?
The provided IRS 990 summary data does not include a detailed breakdown of expenses into program, administrative, and fundraising categories, making it impossible to determine the exact program spending ratio from this information alone.
Filing History
IRS 990 filing history for Portage Homes For Elderly Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Portage Homes For Elderly Inc's revenue has grown by 23%, moving from $76K to $94K. Total assets decreased by 27.9% over the same period, from $1.8M to $1.3M. Total functional expenses rose by 20.9%, from $107K to $130K. In its most recent filing year (2023), Portage Homes For Elderly Inc reported a deficit of $36K, with expenses exceeding revenue. The organization holds $1.9M in liabilities against $1.3M in assets (debt-to-asset ratio: 143.2%), resulting in net assets of $-571,378.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $94K | $130K | $1.3M | $1.9M | — | View 990 |
| 2022 | $94K | $143K | $1.4M | $1.9M | — | View 990 |
| 2021 | $87K | $133K | $1.4M | $1.9M | — | View 990 |
| 2020 | $85K | $131K | $1.5M | $1.9M | — | View 990 |
| 2019 | $84K | $122K | $1.5M | $1.9M | — | View 990 |
| 2018 | $83K | $122K | $1.5M | $1.9M | — | View 990 |
| 2017 | $83K | $137K | $1.6M | $1.9M | — | View 990 |
| 2016 | $83K | $121K | $1.6M | $1.9M | — | View 990 |
| 2015 | $83K | $112K | $1.7M | $1.9M | — | View 990 |
| 2014 | $83K | $127K | $1.7M | $1.9M | — | View 990 |
| 2013 | $79K | $124K | $1.8M | $1.9M | — | View 990 |
| 2012 | $78K | $123K | $1.8M | $1.9M | — | View 990 |
| 2011 | $76K | $107K | $1.8M | $1.9M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $94K, expenses of $130K, and assets of $1.3M (revenue -0.3% year-over-year).
- 2022: Revenue of $94K, expenses of $143K, and assets of $1.4M (revenue +8.1% year-over-year).
- 2021: Revenue of $87K, expenses of $133K, and assets of $1.4M (revenue +2.6% year-over-year).
- 2020: Revenue of $85K, expenses of $131K, and assets of $1.5M (revenue +1.8% year-over-year).
- 2019: Revenue of $84K, expenses of $122K, and assets of $1.5M (revenue +0.4% year-over-year).
- 2018: Revenue of $83K, expenses of $122K, and assets of $1.5M (revenue +0.5% year-over-year).
- 2017: Revenue of $83K, expenses of $137K, and assets of $1.6M (revenue +-0.0% year-over-year).
- 2016: Revenue of $83K, expenses of $121K, and assets of $1.6M (revenue -0.4% year-over-year).
- 2015: Revenue of $83K, expenses of $112K, and assets of $1.7M (revenue +0.5% year-over-year).
- 2014: Revenue of $83K, expenses of $127K, and assets of $1.7M (revenue +4.8% year-over-year).
- 2013: Revenue of $79K, expenses of $124K, and assets of $1.8M (revenue +0.7% year-over-year).
- 2012: Revenue of $78K, expenses of $123K, and assets of $1.8M (revenue +2.5% year-over-year).
- 2011: Revenue of $76K, expenses of $107K, and assets of $1.8M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Portage Homes For Elderly Inc:
Data Sources and Methodology
This transparency report for Portage 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.