Southern Indiana Housing Development Corp

Analysis

Southern Indiana Housing Development Corp is a registered charity in United States, based in Evansville, IN. It received its IRS tax-exemption ruling in April 2004, 22 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Southern Indiana Housing Development Corp reported income of $63k and spending of $141k, spending 222% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $48k to $63k (+33%), an average of +7.4% a year. The sharpest change came in the year to December 2022, when income rose by 45%. Over the whole period it spent 166% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Southern Indiana Housing Development Corp sits at the 14th percentile: it is larger than about 14% of them. Against every charity in United States with reported income it ranks in the 25th percentile, and in the 22nd percentile within IN. Charities of a similar size with the same main cause include Brandywine Apartments Inc ($63k), Lake Area Helping Hands Inc ($63k) and Oconor Homes Incorporated ($63k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 33% and program service revenue 65% of the total. Other salaries and wages came to $21k. At year end it held assets of $568k against liabilities of $1.0m, net assets of -$433k.

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.