Parree Porter Sr Housing Inc

Analysis

Parree Porter Sr Housing Inc is a registered charity in United States, based in Washington, NC. It received its IRS tax-exemption ruling in July 2014, 12 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 December 2023, Parree Porter Sr Housing Inc reported income of $524k and spending of $631k, spending 120% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $416k to $524k (+26%), an average of +5.9% a year. Over the whole period it spent 128% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Parree Porter Sr Housing Inc sits at the 59th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 70th percentile within NC. Charities of a similar size with the same main cause include Lewiston-Auburn Area Housing Development Corporation ($524k), Redwood Cove Senior Apartments ($525k) and Miles City Eagles Manor ($524k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 46% and program service revenue 54% of the total. At year end it held assets of $4.4m against liabilities of $6.3m, net assets of -$1.9m.

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.