Pico-Union Housing Corporation

Analysis

Pico-Union Housing Corporation is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in December 1981, 45 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, Pico-Union Housing Corporation reported income of $14.5m and spending of $22.7m, spending 157% of what it took in. Across the 4 years on record, from March 2020 to March 2023, income grew from $9.6m to $14.5m (+50%), an average of +15% a year. The sharpest change came in the year to March 2021, when income rose by 43%. Over the whole period it spent 130% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Pico-Union Housing Corporation sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within CA. Charities of a similar size with the same main cause include Hale Mahaolu ($14.5m), Community Development Corporation of Utah ($14.5m) and House of Ruth ($14.5m).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 35% and program service revenue 64% of the total. Compensation of current officers, directors and key employees was $781k (3.4% of expenses). Other salaries and wages came to $2.9m. At year end it held assets of $137.8m against liabilities of $126.1m, net assets of $11.7m. It reported 72 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.