Gratiot Woods Non-Profit Housing Corp

Analysis

Gratiot Woods Non-Profit Housing Corp is a registered charity in United States, based in Warren, MI. It received its IRS tax-exemption ruling in December 2006, 20 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 June 2024, Gratiot Woods Non-Profit Housing Corp reported income of $581k and spending of $890k, spending 153% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income grew from $507k to $581k (+15%), an average of +2.8% a year. Over the whole period it spent 130% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Gratiot Woods Non-Profit Housing Corp sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 73rd percentile within MI. Charities of a similar size with the same main cause include Jane Place Neighborhood Sustainability Initiative ($581k), RGV Inclusive Project Inc ($581k) and Kingdom Community Development Corporation ($581k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 59% and program service revenue 40% of the total. At year end it held assets of $4.9m against liabilities of $277k, net assets of $4.6m.

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.