Spring Meadows II Senior Non-Profit Housing Corporation

Analysis

Spring Meadows II Senior Non-Profit Housing Corporation is a registered charity in United States, based in Jackson, MI. It received its IRS tax-exemption ruling in December 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Spring Meadows II Senior Non-Profit Housing Corporation reported income of $323k and spending of $426k, spending 132% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $282k to $323k (+14%), an average of +3.4% a year. Over the whole period it spent 132% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Spring Meadows II Senior Non-Profit Housing Corporation sits at the 48th percentile: it is larger than about 48% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 63rd percentile within MI. Charities of a similar size with the same main cause include Sister Helen Travis Housing Development Fund Corporation ($323k), Cheyenne Senior Housing Inc ($323k) and Bristol Bay Housing Development Corporation ($323k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 94% of the total. Compensation of current officers, directors and key employees was $38k (9.0% of expenses). Other salaries and wages came to $82k. At year end it held assets of $2.6m against liabilities of $3.6m, net assets of -$1.0m. It reported 3 employees.

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.