Scottish Rite Tower Development Corporation

Analysis

Scottish Rite Tower Development Corporation is a registered charity in United States, based in Duarte, CA. It received its IRS tax-exemption ruling in January 1994, 32 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending March 2023, Scottish Rite Tower Development Corporation reported income of $1.2m and spending of $1.7m, spending 143% of what it took in. Across the 4 years on record, from March 2020 to March 2023, income grew from $1.1m to $1.2m (+2.8%), an average of +0.9% a year. Over the whole period it spent 139% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Scottish Rite Tower Development Corporation sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 82nd percentile within CA. Charities of a similar size with the same main cause include Jewel Foundation Incorporated ($1.2m), Hope Restorations Inc ($1.2m) and P I Foundation ($1.2m).

On its Form 990 for the period ending March 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $391k. At year end it held assets of $4.0m against liabilities of $235k, net assets of $3.8m. It reported 6 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.