Second Chances Foundation Inc

Analysis

Second Chances Foundation Inc is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in September 2008, 18 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 December 2023, Second Chances Foundation Inc reported income of $463k and spending of $412k, spending 89% of its income. Across the 6 years on record, from December 2018 to December 2023, income grew from $433k to $463k (+6.9%), an average of +1.3% a year. The sharpest change came in the year to December 2023, when income rose by 41%. Over the whole period it spent 105% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Second Chances Foundation Inc sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 70th percentile within TN. Charities of a similar size with the same main cause include Inner City Recovery Homes International ($463k), Owsley County Housing Association Eastside Apts ($463k) and State College Community Land Trust Inc ($462k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 25% and program service revenue 75% of the total. Compensation of current officers, directors and key employees was $24k (5.9% of expenses). Other salaries and wages came to $212k. At year end it held assets of $144k against liabilities of $840, net assets of $143k. It reported 22 employees.