Tent City Corporation

Analysis

Tent City Corporation is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in February 2014, 12 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 2022, Tent City Corporation reported income of $6.5m and spending of $10.0m, spending 155% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income fell from $7.7m to $6.5m (-15%), an average of -5.4% a year. Over the whole period it spent 141% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Tent City Corporation sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 92nd percentile within MA. Charities of a similar size with the same main cause include Interfaith Sanctuary Housingservices Inc ($6.5m), Silvercrest Inc ($6.5m) and Saint Josephs Carpenter Society ($6.5m).

On its Form 990 for the period ending December 2022, revenue came from program service revenue 99% of the total. At year end it held assets of $43.4m against liabilities of $74.9m, net assets of -$31.5m.

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.