Mdbm-Epsilon Senior Housing Corporation

Analysis

Mdbm-Epsilon Senior Housing Corporation is a registered charity in United States, based in Farmingtn HLS, MI. It received its IRS tax-exemption ruling in May 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, Mdbm-Epsilon Senior Housing Corporation reported income of $1.4m and spending of $1.2m, spending 87% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $966k to $1.4m (+41%), an average of +8.9% a year. The sharpest change came in the year to December 2022, when income rose by 37%. Over the whole period it spent 93% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Mdbm-Epsilon Senior Housing Corporation sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 82nd percentile within MI. Charities of a similar size with the same main cause include Julie House Inc ($1.4m), Access Housing Inc DC ($1.4m) and Bedford 203 Housing Development Fund Corporation ($1.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 76% and program service revenue 24% of the total. Compensation of current officers, directors and key employees was $44k (3.8% of expenses). Other salaries and wages came to $257k. At year end it held assets of $2.0m against liabilities of $3.2m, net assets of -$1.2m.