South Mississippi Housing Anddevelopment Corporation

Analysis

South Mississippi Housing Anddevelopment Corporation is a registered charity in United States, based in Gulfport, MS. It received its IRS tax-exemption ruling in March 2008, 18 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, South Mississippi Housing Anddevelopment Corporation reported income of $1.7m and spending of $2.1m, spending 120% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.6m to $1.7m (-34%), an average of -9.9% a year. The sharpest change came in the year to December 2023, when income dropped by 43%. Over the whole period it spent 106% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, South Mississippi Housing Anddevelopment Corporation sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 86th percentile within MS. Charities of a similar size with the same main cause include Presidio Village Senior Housing Inc ($1.7m), Ann Arbor Affordable Housing Corporation ($1.7m) and Martin Luther Tower Inc ($1.7m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. Other salaries and wages came to $293k. At year end it held assets of $20.8m against liabilities of $177k, net assets of $20.7m. It reported 16 employees.

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.