South Main Street Housing TR Inc

Analysis

South Main Street Housing TR Inc is a registered charity in United States, based in White Riv JCT, VT. It received its IRS tax-exemption ruling in January 2007, 19 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, South Main Street Housing TR Inc reported income of $925k and spending of $1.2m, spending 132% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.2m to $925k (-21%), an average of -5.8% a year. The sharpest change came in the year to December 2022, when income dropped by 16%. Over the whole period it spent 104% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, South Main Street Housing TR Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 75th percentile within VT. Charities of a similar size with the same main cause include Park City Initiative Corporation ($925k), Thomas-Adams Residential Care Facility Inc ($925k) and Willow Arms Mutual Housing Association Inc ($924k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 63% and program service revenue 37% of the total. At year end it held assets of $13.0m against liabilities of $13.2m, net assets of -$263k.

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.