Passavant Memorial Homes V

Analysis

Passavant Memorial Homes V is a registered charity in United States, based in Pittsburgh, PA. It received its IRS tax-exemption ruling in February 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 2023, Passavant Memorial Homes V reported income of $57k and spending of $86k, spending 149% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $54k to $57k (+5.4%), an average of +1.8% a year. Over the whole period it spent 131% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Passavant Memorial Homes V sits at the 13th percentile: it is larger than about 13% of them. Against every charity in United States with reported income it ranks in the 22nd percentile, and in the 21st percentile within PA. Charities of a similar size with the same main cause include Somerville Community Land Trust ($57k), Athens Woods Estate Inc ($57k) and Scottsdale Residence Inc ($57k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $1,358. At year end it held assets of $607k against liabilities of $49k, net assets of $557k.

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.