Independence Park Inc

Analysis

Independence Park Inc is a registered charity in United States, based in Sharon, PA. It received its IRS tax-exemption ruling in May 2001, 25 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 2024, Independence Park Inc reported income of $94k and spending of $132k, spending 140% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $79k to $94k (+19%), an average of +4.5% a year. Over the whole period it spent 127% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Independence Park Inc sits at the 21st percentile: it is larger than about 21% of them. Against every charity in United States with reported income it ranks in the 35th percentile, and in the 33rd percentile within PA. Charities of a similar size with the same main cause include Southwest Florida Gwi Housing Xiv Inc ($94k), Share Credit Corp ($95k) and Cumberland Senior Housing Assoc ($94k).

On its Form 990 for the period ending June 2024, revenue came from program service revenue 100% of the total. Other salaries and wages came to $22k. At year end it held assets of $406k against liabilities of $835k, net assets of -$429k.

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.