Simadon Corporation

Analysis

Simadon Corporation is a registered charity in United States, based in Goshen, IN. It received its IRS tax-exemption ruling in June 2007, 19 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, Simadon Corporation reported income of $118k and spending of $141k, spending 119% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $114k to $118k (+4.0%), an average of +1.3% a year. Over the whole period it spent 117% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Simadon Corporation sits at the 26th percentile: it is larger than about 26% of them. Against every charity in United States with reported income it ranks in the 41st percentile, and in the 39th percentile within IN. Charities of a similar size with the same main cause include Refuge in Otsego County ($118k), Neighborhood Housing Development Corporation ($118k) and Ex-Saker Students Association USA Inc ($118k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 59% and program service revenue 40% of the total. At year end it held assets of $944k against liabilities of $29k, net assets of $915k.

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.