Spartan Housing Cooperative Inc

Analysis

Spartan Housing Cooperative Inc is a registered charity in United States, based in East Lansing, MI. It received its IRS tax-exemption ruling in November 2022, 4 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).

In the financial year ending August 2023, Spartan Housing Cooperative Inc reported income of $1.6m and spending of $1.3m, spending 85% of its income. Across the 2 years on record, from August 2022 to August 2023, income grew from $1.4m to $1.6m (+8.2%), an average of +8.2% a year. Over the whole period it spent 85% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Spartan Housing Cooperative Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 84th percentile within MI. Charities of a similar size with the same main cause include Neighborhood Housing Services Oklahoma City Inc ($1.6m), West Elmwood Housing Development Corp ($1.6m) and Bomh Inc ($1.6m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 0.3% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $109k (8.2% of expenses). Other salaries and wages came to $255k. At year end it held assets of $5.3m against liabilities of $2.1m, net assets of $3.1m. It reported 7 employees.