Telesis Housing Corporation

Analysis

Telesis Housing Corporation is a registered charity in United States, based in Portland, ME. It received its IRS tax-exemption ruling in June 1994, 32 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Telesis Housing Corporation reported income of $51k and spending of $51k, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $246k to $51k (-79%), an average of -32% a year. The sharpest change came in the year to December 2020, when income dropped by 76%. Over the whole period it spent 123% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Telesis Housing Corporation sits at the 19th percentile: it is larger than about 19% of them. Against every charity in United States with reported income it ranks in the 20th percentile, and in the 14th percentile within ME. Charities of a similar size with the same main cause include Pride of Ontario County Blue Star Mothers Inc ($51k), Future Farmers of America ($51k) and Bays Mountain Park Association ($51k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 96% of the total. Other salaries and wages came to $13k. At year end it held assets of $429k against liabilities of $234k, net assets of $195k. It reported 1 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.