Bethany Methodist Corporation

Analysis

Bethany Methodist Corporation is a registered charity in United States, based in Glenview, IL. It received its IRS tax-exemption ruling in October 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Bethany Methodist Corporation reported income of $7.2m and spending of $8.6m, spending 120% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $5.4m to $7.2m (+34%), an average of +7.6% a year. The sharpest change came in the year to September 2020, when income rose by 49%. Over the whole period it spent 107% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Bethany Methodist 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 94th percentile, and in the 94th percentile within IL. Charities of a similar size with the same main cause include Housing Choices Coalition for Persons with Developmental Disabil ($7.2m), Alta Housing ($7.2m) and Region 9 Uaw Housing Corporation ($7.2m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 0.5% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $243k (2.8% of expenses). Other salaries and wages came to $3.3m. At year end it held assets of $25.3m against liabilities of $42.4m, net assets of -$17.1m. It reported 152 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.