Senior Citizens Housing Development Corporation of Stonington

Analysis

Senior Citizens Housing Development Corporation of Stonington 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 Stonington reported income of $1.0m and spending of $1.1m, spending 110% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $880k to $1.0m (+16%), an average of +3.7% a year. Over the whole period it spent 115% 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 Stonington sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 81st percentile within FL. Charities of a similar size with the same main cause include St Annes Gardens Inc ($1.0m), San Benito Low Income Housing Corporation ($1.0m) and Parker Personal Care Inc ($1.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.8% and program service revenue 98% of the total. Other salaries and wages came to $203k. At year end it held assets of $2.9m against liabilities of $145k, net assets of $2.7m. It reported 4 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.