Saint Josephs Tower Inc

Analysis

Saint Josephs Tower Inc is a registered charity in United States, based in Livonia, MI. It received its IRS tax-exemption ruling in March 1946, 80 years ago. 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, Saint Josephs Tower Inc reported income of $920k and spending of $968k, spending 105% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $871k to $920k (+5.5%), an average of +1.4% a year. Over the whole period it spent 106% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Saint Josephs Tower Inc sits at the 77th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 78th percentile within MI. Charities of a similar size with the same main cause include Boys & Girls Club of Alice ($919k), Bnai Brith Hillel Foundation at Queens College Inc ($920k) and Wee Pals Child Care Center Inc ($919k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 67% and program service revenue 32% of the total. Other salaries and wages came to $177k. At year end it held assets of $1.1m against liabilities of $3.3m, net assets of -$2.2m.

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.