Highland Terrace Housing Corp

Analysis

Highland Terrace Housing Corp is a registered charity in United States, based in New Castle, PA. It received its IRS tax-exemption ruling in October 1994, 32 years ago. 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 March 2023, Highland Terrace Housing Corp reported income of $386k and spending of $417k, spending 108% of what it took in. Across the 4 years on record, from March 2020 to March 2023, income grew from $322k to $386k (+20%), an average of +6.2% a year. Over the whole period it spent 113% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Highland Terrace Housing Corp sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 64th percentile within PA. Charities of a similar size with the same main cause include National Christian Charitable Foundation Inc ($385k), Pro Flat Track Ama Rookie Class of 79 and Friends Fund ($386k) and The Florida Research Institute for Equine Nurturing Devel & Saf ($385k).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 65% and program service revenue 35% of the total. Other salaries and wages came to $99k. At year end it held assets of $1.2m against liabilities of $2.6m, net assets of -$1.4m.

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.