First Shared Housing Corp

Analysis

First Shared Housing Corp is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in July 1984, 42 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 May 2023, First Shared Housing Corp reported income of $70k and spending of $93k, spending 132% of what it took in. Across the 4 years on record, from May 2020 to May 2023, income fell from $79k to $70k (-11%), an average of -3.9% a year. Over the whole period it spent 113% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, First Shared Housing Corp sits at the 16th percentile: it is larger than about 16% of them. Against every charity in United States with reported income it ranks in the 28th percentile, and in the 26th percentile within PA. Charities of a similar size with the same main cause include West Philadelphia Consortium Transitional Housing Inc ($70k), Super Kids Ministries Inc ($70k) and A Better Life Housing ($70k).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 82% and program service revenue 18% of the total. Other salaries and wages came to $11k. At year end it held assets of $112k against liabilities of $524k, net assets of -$412k. It reported 1 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.