Shalom Towers Inc

Analysis

Shalom Towers Inc is a registered charity in United States, based in Ventnor, NJ. It received its IRS tax-exemption ruling in October 1981, 45 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, Shalom Towers Inc reported income of $2.6m and spending of $2.6m, spending 98% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $2.5m to $2.6m (+7.5%), an average of +2.5% a year. Over the whole period it spent 101% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Shalom Towers Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 90th percentile within NJ. Charities of a similar size with the same main cause include Corvallis Caring Place ($2.6m), Housing Development & Neighborhood Preservation Corporation-Ocd ($2.7m) and Gulf Coast Partnership Inc ($2.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 2.4% and program service revenue 97% of the total. Other salaries and wages came to $491k. At year end it held assets of $3.9m against liabilities of $6.5m, net assets of -$2.7m. It reported 10 employees.