Poinsett House Senior Housing Corporation

Analysis

Poinsett House Senior Housing Corporation is a registered charity in United States, based in Spartanburg, SC. It received its IRS tax-exemption ruling in January 2003, 23 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, Poinsett House Senior Housing Corporation reported income of $228k and spending of $309k, spending 136% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $194k to $228k (+17%), an average of +4.0% a year. Over the whole period it spent 129% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Poinsett House Senior Housing Corporation sits at the 40th percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 62nd percentile within SC. Charities of a similar size with the same main cause include Chariton Valley Regional Housing Trust Fund Inc ($228k), Future Forward Foundation ($228k) and Presbyterian Housing Corp ($228k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 28% and program service revenue 72% of the total. Other salaries and wages came to $32k. At year end it held assets of $1.9m against liabilities of $3.0m, net assets of -$1.1m.

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.