Stoneboro Development Corporation

Analysis

Stoneboro Development Corporation is a registered charity in United States, based in Monroeville, PA. It received its IRS tax-exemption ruling in February 1988, 38 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), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Stoneboro Development Corporation reported income of $456k and spending of $468k, spending 103% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $410k to $456k (+11%), an average of +3.6% a year. The sharpest change came in the year to June 2023, when income rose by 23%. Over the whole period it spent 110% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Stoneboro Development Corporation sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 67th percentile within PA. Charities of a similar size with the same main cause include Mendenhall Rural Housing and Comm Development Corporation ($455k), Woods Senior Living Center Inc ($456k) and Washington Townhouses ($455k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 51% and program service revenue 43% of the total. At year end it held assets of $493k against liabilities of $1.8m, net assets of -$1.3m.

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.