Plaza Terrace Mutual Housing Association Inc

Analysis

Plaza Terrace Mutual Housing Association Inc is a registered charity in United States, based in Hartford, CT. It received its IRS tax-exemption ruling in February 1995, 31 years ago. Its declared purposes cover community improvement and capacity building, 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 December 2023, Plaza Terrace Mutual Housing Association Inc reported income of $235k and spending of $242k, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $200k to $235k (+18%), an average of +4.2% a year. Over the whole period it spent 108% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Plaza Terrace Mutual Housing Association Inc sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 54th percentile within CT. Charities of a similar size with the same main cause include Community Action Council of Crow Wing County Inc ($235k), Huron County Growth Partnership Charities ($235k) and Partnerships for Lawrence Inc ($235k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. At year end it held assets of $724k against liabilities of $40k, net assets of $684k.

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.