Eye of a Needle Foundation

Analysis

Eye of a Needle Foundation is a registered charity in United States, based in San Diego, CA. It received its IRS tax-exemption ruling in February 2012, 14 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, Eye of a Needle Foundation reported income of $133k and spending of $149k, spending 112% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $176k to $133k (-24%), an average of -6.7% a year. The sharpest change came in the year to December 2022, when income rose by 53%. Over the whole period it spent 102% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Eye of a Needle Foundation sits at the 29th percentile: it is larger than about 29% of them. Against every charity in United States with reported income it ranks in the 44th percentile, and in the 46th percentile within CA. Charities of a similar size with the same main cause include St Joseph Helpers ($133k), Gladstone Housing Inc ($133k) and Welcome House Inc ($133k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $60k. At year end it held assets of $25k against liabilities of $22k, net assets of $3,625. It reported 4 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.