Trinity Homes For Elderly Inc
Trinity Homes For Elderly Inc consistently operates at a deficit with declining assets and high liabilities.
EIN: 200508924 · Morristown, TN · NTEE: L22 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $296K |
| Total Expenses | $402K |
| Program Spending | 80% |
| Net Assets | $-1,153,017 |
| Transparency Score | 40/100 |
Is Trinity 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 →
Trinity Homes For Elderly Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Trinity Homes For Elderly Inc
Trinity Homes For Elderly Inc (EIN: 200508924) is a nonprofit organization based in Morristown, TN, classified under NTEE code L22. The organization reported total revenue of $296K and total assets of $2.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Trinity Homes For Elderly Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Trinity Homes For Elderly Inc is a small nonprofit that has been operating for 22 years, with 14 years of IRS 990 filings on record (2011–2024). Revenue has grown at a compound annual rate of 3.7%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $282K |
| Total Expenses | $402K |
| Surplus / Deficit | $-120,930 |
| Total Assets | $2.3M |
| Total Liabilities | $3.4M |
| Net Assets | $-1,153,017 |
| Operating Margin | -43.0% |
| Debt-to-Asset Ratio | 150.4% |
| Months of Reserves | 68.2 months |
Financial Health Grade: C
In 2024, Trinity Homes For Elderly Inc reported a deficit of $121K with expenses exceeding revenue, holds 68.2 months of operating reserves (strong position), has a debt-to-asset ratio of 150.4% (high leverage).
Financial Trends
Over 14 years of filings (2011–2024), Trinity Homes For Elderly Inc's revenue has grown at a compound annual growth rate (CAGR) of 3.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +4.0% | +16.1% | +0.1% |
| 2023 | -25.2% | +0.7% | -3.8% |
| 2022 | +44.6% | +3.8% | -3.3% |
| 2021 | +0.3% | +8.3% | -2.9% |
| 2020 | +5.3% | -13.9% | -2.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2004 |
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 Trinity Homes For Elderly Inc with a Mission Score of 40 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, Trinity 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 $121K, with expenses exceeding revenue.
- Debt-to-asset ratio: 150.4%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officer salaries are paid, which is highly unusual for an organization of this size and could imply volunteer leadership or compensation structured in a non-officer capacity.
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 Trinity Homes For Elderly Inc's IRS 990 filings:
- Consistent operational deficits (expenses exceeding revenue in all periods, e.g., $402,442 expenses vs. $281,512 revenue in 202403).
- Declining asset base over time (from $2,926,770 in 201503 to $2,286,690 in 202403).
- Liabilities significantly exceed assets, indicating a negative net asset position and potential solvency issues (e.g., $3,439,707 liabilities vs. $2,286,690 assets in 202403).
- Lack of detailed expense breakdown (program, admin, fundraising) in the provided data makes it difficult to assess spending efficiency.
Strengths
The following positive indicators were identified for Trinity Homes For Elderly Inc:
- Reported 0% officer compensation across all filings, suggesting low executive overhead.
Frequently Asked Questions about Trinity Homes For Elderly Inc
Is Trinity Homes For Elderly Inc a legitimate charity?
Trinity Homes For Elderly Inc (EIN: 200508924) is a registered tax-exempt nonprofit based in Tennessee. Our AI analysis gives it a Mission Score of 40/100. It has 14 years of IRS 990 filings on record. Total revenue: $296K. 4 red flags identified. 1 strength noted. Financial health grade: C.
How does Trinity Homes For Elderly Inc spend its money?
Trinity 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 Trinity Homes For Elderly Inc tax-deductible?
Trinity Homes For Elderly Inc is registered as a tax-exempt nonprofit (EIN: 200508924). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Trinity Homes For Elderly Inc's spending goes to programs?
Trinity Homes For Elderly Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Trinity Homes For Elderly Inc compare to similar nonprofits?
With a transparency score of 40/100 (Fair), Trinity 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 Trinity Homes For Elderly Inc located?
Trinity Homes For Elderly Inc is headquartered in Morristown, Tennessee and files with the IRS under EIN 200508924. It is classified under NTEE code L22.
How many years of IRS 990 filings does Trinity Homes For Elderly Inc have?
Trinity 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 $296K in total revenue.
Is Trinity Homes For Elderly Inc financially sustainable?
Based on the consistent operational deficits (e.g., $281,512 revenue vs. $402,442 expenses in 202403) and declining assets coupled with high liabilities, the organization's long-term financial sustainability appears to be at risk.
Why are liabilities consistently higher than assets?
Liabilities have consistently exceeded assets (e.g., $3,439,707 liabilities vs. $2,286,690 assets in 202403), indicating a negative net asset position, which is a significant financial concern and suggests potential insolvency.
What is the cause of the continuous operating losses?
The organization consistently spends more than it earns, with expenses exceeding revenue in every reported period (e.g., $402,442 expenses vs. $281,512 revenue in 202403). The specific causes of these losses would require a more detailed breakdown of expenses and revenue sources.
Filing History
IRS 990 filing history for Trinity Homes For Elderly Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2024), Trinity Homes For Elderly Inc's revenue has grown by 59.8%, moving from $176K to $282K. Total assets decreased by 28.7% over the same period, from $3.2M to $2.3M. Total functional expenses rose by 62.6%, from $248K to $402K. In its most recent filing year (2024), Trinity Homes For Elderly Inc reported a deficit of $121K, with expenses exceeding revenue. The organization holds $3.4M in liabilities against $2.3M in assets (debt-to-asset ratio: 150.4%), resulting in net assets of $-1,153,017.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $282K | $402K | $2.3M | $3.4M | — | — |
| 2023 | $271K | $347K | $2.3M | $3.3M | — | View 990 |
| 2022 | $362K | $344K | $2.4M | $3.3M | — | View 990 |
| 2021 | $250K | $332K | $2.5M | $3.4M | — | — |
| 2020 | $249K | $306K | $2.5M | $3.4M | — | View 990 |
| 2019 | $237K | $356K | $2.6M | $3.4M | — | View 990 |
| 2018 | $234K | $305K | $2.7M | $3.5M | — | View 990 |
| 2017 | $236K | $332K | $2.8M | $3.5M | — | View 990 |
| 2016 | $203K | $269K | $2.9M | $3.5M | — | View 990 |
| 2015 | $202K | $272K | $2.9M | $3.4M | — | View 990 |
| 2014 | $207K | $271K | $3.0M | $3.4M | — | View 990 |
| 2013 | $185K | $256K | $3.1M | $3.4M | — | View 990 |
| 2012 | $174K | $259K | $3.1M | $3.4M | — | View 990 |
| 2011 | $176K | $248K | $3.2M | $3.4M | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $282K, expenses of $402K, and assets of $2.3M (revenue +4.0% year-over-year).
- 2023: Revenue of $271K, expenses of $347K, and assets of $2.3M (revenue -25.2% year-over-year).
- 2022: Revenue of $362K, expenses of $344K, and assets of $2.4M (revenue +44.6% year-over-year).
- 2021: Revenue of $250K, expenses of $332K, and assets of $2.5M (revenue +0.3% year-over-year).
- 2020: Revenue of $249K, expenses of $306K, and assets of $2.5M (revenue +5.3% year-over-year).
- 2019: Revenue of $237K, expenses of $356K, and assets of $2.6M (revenue +1.4% year-over-year).
- 2018: Revenue of $234K, expenses of $305K, and assets of $2.7M (revenue -1.0% year-over-year).
- 2017: Revenue of $236K, expenses of $332K, and assets of $2.8M (revenue +16.0% year-over-year).
- 2016: Revenue of $203K, expenses of $269K, and assets of $2.9M (revenue +0.6% year-over-year).
- 2015: Revenue of $202K, expenses of $272K, and assets of $2.9M (revenue -2.1% year-over-year).
- 2014: Revenue of $207K, expenses of $271K, and assets of $3.0M (revenue +11.8% year-over-year).
- 2013: Revenue of $185K, expenses of $256K, and assets of $3.1M (revenue +6.5% year-over-year).
- 2012: Revenue of $174K, expenses of $259K, and assets of $3.1M (revenue -1.5% year-over-year).
- 2011: Revenue of $176K, expenses of $248K, and assets of $3.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Trinity Homes For Elderly Inc:
Data Sources and Methodology
This transparency report for Trinity 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.