Palm Village Senior Housing Corp

Analysis

Palm Village Senior Housing Corp is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in July 2005, 21 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, Palm Village Senior Housing Corp reported income of $849k and spending of $1.0m, spending 119% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income grew from $406k to $849k (+109%), an average of +16% a year. The sharpest change came in the year to June 2024, when income rose by 73%. Over the whole period it spent 168% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Palm Village Senior Housing Corp sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 78th percentile within CA. Charities of a similar size with the same main cause include Two Rivers Community Land Trust ($849k), McKees Rocks Community Development Corp ($850k) and Sustainable Water Energy and Economic Transition in Alabama ($848k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 70% and program service revenue 30% of the total. Other salaries and wages came to $113k. At year end it held assets of $7.4m against liabilities of $13.3m, net assets of -$5.9m.

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.