First Congregational Memorial Tower

Analysis

First Congregational Memorial Tower is a registered charity in United States, based in San Diego, CA. It received its IRS tax-exemption ruling in July 1985, 41 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 June 2023, First Congregational Memorial Tower reported income of $2.8m and spending of $1.7m, leaving 38% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.4m to $2.8m (+105%), an average of +20% a year. The sharpest change came in the year to June 2023, when income rose by 95%. Over the whole period it spent 88% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, First Congregational Memorial Tower sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 89th percentile within CA. Charities of a similar size with the same main cause include Help Initiative Inc ($2.8m), Eagle Rock Senior Citizens Housing Assoc ($2.8m) and Sophia Snow House Inc ($2.8m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 98% of the total. Other salaries and wages came to $265k. At year end it held assets of $7.5m against liabilities of $6.1m, net assets of $1.4m. It reported 4 employees.