Prospect Housing Properties Inc

Analysis

Prospect Housing Properties Inc is a registered charity in United States, based in Lebanon, TN. It received its IRS tax-exemption ruling in August 2007, 19 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Prospect Housing Properties Inc reported income of $69k and spending of $83k, spending 121% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income grew from $49k to $69k (+40%), an average of +6.9% a year. Over the whole period it spent 122% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Prospect Housing Properties Inc sits at the 24th percentile: it is larger than about 24% of them. Against every charity in United States with reported income it ranks in the 27th percentile, and in the 26th percentile within TN. Charities of a similar size with the same main cause include Family Resource Exchange ($69k), Bay Area Law Enforcement Assistance Fund Inc ($69k) and The Marayah Cares Foundation ($69k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 38% and program service revenue 61% of the total. Other salaries and wages came to $4,012. At year end it held assets of $770k against liabilities of $15k, net assets of $755k.

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.