Riverton Homes For Elderly Inc
Riverton Homes For Elderly Inc faces persistent operational deficits and high liabilities despite consistent revenue.
EIN: 204420692 · Morristown, TN · NTEE: B190 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $68K |
| Total Expenses | $86K |
| Program Spending | 80% |
| Net Assets | $-318,399 |
| Transparency Score | 45/100 |
Is Riverton 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 →
Riverton Homes For Elderly Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Riverton Homes For Elderly Inc
Riverton Homes For Elderly Inc (EIN: 204420692) is a nonprofit organization based in Morristown, TN, classified under NTEE code B190. The organization reported total revenue of $68K and total assets of $642K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Riverton Homes For Elderly Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Riverton Homes For Elderly Inc is a micro nonprofit that has been operating for 19 years, with 14 years of IRS 990 filings on record (2011–2024). Revenue has grown at a compound annual rate of 4.0%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $70K |
| Total Expenses | $86K |
| Surplus / Deficit | $-16,148 |
| Total Assets | $664K |
| Total Liabilities | $982K |
| Net Assets | $-318,399 |
| Operating Margin | -23.1% |
| Debt-to-Asset Ratio | 148.0% |
| Months of Reserves | 92.7 months |
Financial Health Grade: C
In 2024, Riverton Homes For Elderly Inc reported a deficit of $16K with expenses exceeding revenue, holds 92.7 months of operating reserves (strong position), has a debt-to-asset ratio of 148.0% (high leverage).
Financial Trends
Over 14 years of filings (2011–2024), Riverton Homes For Elderly Inc's revenue has grown at a compound annual growth rate (CAGR) of 4.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +10.5% | -9.6% | -2.9% |
| 2023 | -5.4% | +9.4% | -4.2% |
| 2022 | +4.2% | +8.2% | -2.4% |
| 2021 | +3.9% | -1.6% | -2.2% |
| 2020 | +1.2% | -1.7% | -3.2% |
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 Riverton 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, Riverton 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 (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $16K, with expenses exceeding revenue.
- Debt-to-asset ratio: 148.0%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, suggesting that the organization relies on volunteer leadership. This can be a positive for minimizing overhead, but also implies that the organization is not incurring significant salary expenses for its top management.
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 Riverton Homes For Elderly Inc's IRS 990 filings:
- Consistent operational deficits: Expenses have exceeded revenue in every reported period, indicating an unsustainable financial model.
- Declining assets: Total assets have steadily decreased from $841,217 in 2015 to $663,626 in 2024.
- High liabilities: Liabilities consistently hover around $980,000, significantly outweighing assets and indicating a high debt burden.
- Negative net assets: The consistent liabilities exceeding assets suggest a negative net asset position, which is a significant financial concern.
Strengths
The following positive indicators were identified for Riverton Homes For Elderly Inc:
- Consistent filing history: The organization has a strong record of filing its IRS 990s, indicating good compliance and transparency.
- No reported officer compensation: The absence of officer compensation suggests a volunteer-led model, potentially reducing administrative overhead.
- Significant asset base: Despite declines, the organization still holds over $660,000 in assets, providing some financial cushion.
Frequently Asked Questions about Riverton Homes For Elderly Inc
Is Riverton Homes For Elderly Inc a legitimate charity?
Riverton Homes For Elderly Inc (EIN: 204420692) is a registered tax-exempt nonprofit based in Tennessee. Our AI analysis gives it a Mission Score of 45/100. It has 14 years of IRS 990 filings on record. Total revenue: $68K. 4 red flags identified. 3 strengths noted. Financial health grade: C.
How does Riverton Homes For Elderly Inc spend its money?
Riverton 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 Riverton Homes For Elderly Inc tax-deductible?
Riverton Homes For Elderly Inc is registered as a tax-exempt nonprofit (EIN: 204420692). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Riverton Homes For Elderly Inc's spending goes to programs?
Riverton Homes For Elderly Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Riverton Homes For Elderly Inc compare to similar nonprofits?
With a transparency score of 45/100 (Fair), Riverton Homes For Elderly Inc is near average for NTEE category B190 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Riverton Homes For Elderly Inc located?
Riverton Homes For Elderly Inc is headquartered in Morristown, Tennessee and files with the IRS under EIN 204420692. It is classified under NTEE code B190.
How many years of IRS 990 filings does Riverton Homes For Elderly Inc have?
Riverton Homes For Elderly Inc has 14 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 $68K in total revenue.
Is Riverton Homes For Elderly Inc financially sustainable given its consistent operational deficits?
The organization has consistently reported expenses exceeding revenue for at least the past decade, leading to a decline in assets from $841,217 in 2015 to $663,626 in 2024. This trend raises serious concerns about its long-term financial sustainability without a change in its financial model.
What is the nature of the organization's high liabilities, consistently around $980,000?
The filings consistently show liabilities around $980,000, significantly exceeding its assets. Understanding the nature of these liabilities (e.g., mortgages, bonds, program-related investments) is crucial to assessing the organization's financial risk and solvency.
How does Riverton Homes For Elderly Inc plan to address its recurring operational deficits?
With expenses consistently outpacing revenue, the organization needs a clear strategy to either increase its income streams or reduce its operational costs to achieve financial stability and prevent further asset depletion.
What is the detailed breakdown of expenses, particularly between program services, administration, and fundraising?
Without a detailed breakdown of expenses, it's challenging to fully evaluate the organization's spending efficiency and how much of its resources are directly allocated to its mission-related programs versus overhead.
Filing History
IRS 990 filing history for Riverton Homes For Elderly Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2024), Riverton Homes For Elderly Inc's revenue has grown by 67.3%, moving from $42K to $70K. Total assets decreased by 27.7% over the same period, from $918K to $664K. Total functional expenses rose by 34.2%, from $64K to $86K. In its most recent filing year (2024), Riverton Homes For Elderly Inc reported a deficit of $16K, with expenses exceeding revenue. The organization holds $982K in liabilities against $664K in assets (debt-to-asset ratio: 148.0%), resulting in net assets of $-318,399.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $70K | $86K | $664K | $982K | — | — |
| 2023 | $63K | $95K | $683K | $986K | — | View 990 |
| 2022 | $67K | $87K | $713K | $984K | — | — |
| 2021 | $64K | $80K | $731K | $981K | — | — |
| 2020 | $62K | $82K | $747K | $982K | — | View 990 |
| 2019 | $61K | $83K | $773K | $987K | — | View 990 |
| 2018 | $60K | $77K | $792K | $985K | — | View 990 |
| 2017 | $58K | $76K | $807K | $983K | — | — |
| 2016 | $58K | $75K | $825K | $982K | — | View 990 |
| 2015 | $60K | $70K | $841K | $982K | — | View 990 |
| 2014 | $51K | $66K | $854K | $984K | — | View 990 |
| 2013 | $41K | $73K | $869K | $985K | — | View 990 |
| 2012 | $41K | $64K | $896K | $980K | — | View 990 |
| 2011 | $42K | $64K | $918K | $979K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $70K, expenses of $86K, and assets of $664K (revenue +10.5% year-over-year).
- 2023: Revenue of $63K, expenses of $95K, and assets of $683K (revenue -5.4% year-over-year).
- 2022: Revenue of $67K, expenses of $87K, and assets of $713K (revenue +4.2% year-over-year).
- 2021: Revenue of $64K, expenses of $80K, and assets of $731K (revenue +3.9% year-over-year).
- 2020: Revenue of $62K, expenses of $82K, and assets of $747K (revenue +1.2% year-over-year).
- 2019: Revenue of $61K, expenses of $83K, and assets of $773K (revenue +0.8% year-over-year).
- 2018: Revenue of $60K, expenses of $77K, and assets of $792K (revenue +4.4% year-over-year).
- 2017: Revenue of $58K, expenses of $76K, and assets of $807K (revenue +0.7% year-over-year).
- 2016: Revenue of $58K, expenses of $75K, and assets of $825K (revenue -3.9% year-over-year).
- 2015: Revenue of $60K, expenses of $70K, and assets of $841K (revenue +17.4% year-over-year).
- 2014: Revenue of $51K, expenses of $66K, and assets of $854K (revenue +23.2% year-over-year).
- 2013: Revenue of $41K, expenses of $73K, and assets of $869K (revenue +1.5% year-over-year).
- 2012: Revenue of $41K, expenses of $64K, and assets of $896K (revenue -2.3% year-over-year).
- 2011: Revenue of $42K, expenses of $64K, and assets of $918K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Riverton Homes For Elderly Inc:
Data Sources and Methodology
This transparency report for Riverton 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.