South Middlesex Non-Profit Housing Corporation

Analysis

South Middlesex Non-Profit Housing Corporation is a registered charity in United States, based in Framingham, MA. It received its IRS tax-exemption ruling in December 1987, 39 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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 June 2023, South Middlesex Non-Profit Housing Corporation reported income of $11.6m and spending of $15.6m, spending 134% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $13.4m to $11.6m (-14%), an average of -3.6% a year. The sharpest change came in the year to June 2020, when income dropped by 17%. Over the whole period it spent 115% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, South Middlesex Non-Profit Housing Corporation sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 94th percentile within MA. Charities of a similar size with the same main cause include John Paul II Shrine and Institute Inc ($11.5m), Daybreak Independent Service Inc ($11.6m) and Central Valley Opportunity Center ($11.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 1.1% and program service revenue 91% of the total. Other salaries and wages came to $2.3m. At year end it held assets of $95.1m against liabilities of $100.0m, net assets of -$4.9m.

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.