Southwood Housing Development Corporation

Analysis

Southwood Housing Development Corporation is a registered charity in United States, based in Cuthbert, GA. It received its IRS tax-exemption ruling in July 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, Southwood Housing Development Corporation reported income of $90k and spending of $150k, spending 167% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $76k to $90k (+17%), an average of +4.0% a year. The sharpest change came in the year to December 2023, when income rose by 20%. Over the whole period it spent 165% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Southwood Housing Development Corporation sits at the 20th percentile: it is larger than about 20% of them. Against every charity in United States with reported income it ranks in the 34th percentile, and in the 35th percentile within GA. Charities of a similar size with the same main cause include Advent Community Development Corporation ($90k), 128 Place Inc ($90k) and Hobart Housing Corporation ($89k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 26% and program service revenue 74% of the total. At year end it held assets of $562k against liabilities of $1.4m, net assets of -$837k.

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.