Mt Sinai Development Corporation

Analysis

Mt Sinai Development Corporation is a registered charity in United States, based in E Saint Louis, IL. It received its IRS tax-exemption ruling in May 2005, 21 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, Mt Sinai Development Corporation reported income of $233k and spending of $320k, spending 138% of what it took in. Across the 4 years on record, from December 2020 to December 2023, income grew from $63k to $233k (+269%), an average of +54% a year. The sharpest change came in the year to December 2023, when income rose by 96%. Over the whole period it spent 149% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Mt Sinai Development Corporation sits at the 41st percentile: it is larger than about 41% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 57th percentile within IL. Charities of a similar size with the same main cause include Save Residential ($233k), Metro Womens Center ($233k) and THS Emergency Shelter Inc ($233k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 203% of the total. At year end it held assets of $389k against liabilities of $300k, net assets of $88k.

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.