Senior Affordable Housing Corp No 2

Analysis

Senior Affordable Housing Corp No 2 is a registered charity in United States, based in Duarte, CA. It received its IRS tax-exemption ruling in October 2000, 26 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 September 2023, Senior Affordable Housing Corp No 2 reported income of $514k and spending of $536k, spending 104% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $379k to $514k (+36%), an average of +8.0% a year. Over the whole period it spent 118% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Senior Affordable Housing Corp No 2 sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 72nd percentile within CA. Charities of a similar size with the same main cause include Life Options Homes Inc ($514k), Ludden Housing Development Fund Company Inc ($514k) and Florentz Estates Inc ($514k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 60% and program service revenue 38% of the total. At year end it held assets of $2.4m against liabilities of $3.4m, net assets of -$996k.

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.