Frankford Senior Housing Associates

Analysis

Frankford Senior Housing Associates is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in May 1993, 33 years ago. 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, Frankford Senior Housing Associates reported income of $586k and spending of $723k, spending 123% of what it took in. Across the 5 years on record, from September 2019 to June 2023, income grew from $494k to $586k (+19%), an average of +4.4% a year. The sharpest change came in the year to June 2022, when income rose by 27%. Over the whole period it spent 132% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Frankford Senior Housing Associates sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 71st percentile within PA. Charities of a similar size with the same main cause include Habitat for Humanity International Inc ($586k), Chester Community Improvement Project Inc ($586k) and Christian Ministries Inc ($586k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $118k. At year end it held assets of $3.8m against liabilities of $667k, 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.