Overmont Corp

Analysis

Overmont Corp is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in January 1975, 51 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, Overmont Corp reported income of $2.2m and spending of $4.8m, spending 213% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $316k to $2.2m (+607%), an average of +63% a year. The sharpest change came in the year to June 2022, when income rose by 2061%. Over the whole period it spent 364% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Overmont Corp sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 85th percentile within PA. Charities of a similar size with the same main cause include Project Linkage Housing Development Fund Corporation ($2.2m), Living Hope International Inc ($2.2m) and Communityworks North Dakota ($2.2m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 99% of the total. At year end it held assets of $40.0m against liabilities of $36.9m, net assets of $3.1m.

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.