Senior Citizens Housing Development Corporation of South Boston Inc

Analysis

Senior Citizens Housing Development Corporation of South Boston Inc is a registered charity in United States, based in Plantation, FL. It received its IRS tax-exemption ruling in August 2002, 24 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Senior Citizens Housing Development Corporation of South Boston Inc reported income of $782k and spending of $918k, spending 117% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $721k to $782k (+8.4%), an average of +2.0% a year. Over the whole period it spent 117% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Senior Citizens Housing Development Corporation of South Boston Inc sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 78th percentile within FL. Charities of a similar size with the same main cause include Energy Assistance Foundation ($782k), Interim Housing Association ($782k) and Marathon Cooperative Inc ($782k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.7% and program service revenue 98% of the total. Other salaries and wages came to $143k. At year end it held assets of $2.2m against liabilities of $75k, net assets of $2.1m. It reported 3 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.