Co-Mhar Residential Corp

Analysis

Co-Mhar Residential 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. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Co-Mhar Residential Corp reported income of $95k and spending of $211k, spending 223% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $141k to $95k (-33%), an average of -9.4% a year. The sharpest change came in the year to June 2022, when income dropped by 27%. Over the whole period it spent 140% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Co-Mhar Residential Corp sits at the 35th percentile: it is larger than about 35% of them. Against every charity in United States with reported income it ranks in the 35th percentile, and in the 34th percentile within PA. Charities of a similar size with the same main cause include Media Heritage Inc ($95k), New Florence Community Library ($95k) and Christian Outreach Ministries of Fayetteville NC Inc ($95k).

On its Form 990-EZ for the period ending June 2023, revenue came from contributions and grants 35% and program service revenue 63% of the total. At year end it held assets of $477k against liabilities of $1.3m, net assets of -$872k.

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.