Colony Lane Non-Profit Housing Corporation

Analysis

Colony Lane Non-Profit Housing Corporation is a registered charity in United States, based in Warren, MI. It received its IRS tax-exemption ruling in May 2015, 11 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Colony Lane Non-Profit Housing Corporation reported income of $789k and spending of $1.0m, spending 132% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income grew from $671k to $789k (+18%), an average of +3.3% a year. The sharpest change came in the year to June 2022, when income rose by 20%. Over the whole period it spent 142% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Colony Lane Non-Profit Housing Corporation sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 76th percentile within MI. Charities of a similar size with the same main cause include Hylton Point Apartments Inc ($788k), Morrow County Services for Older Citizens Inc ($789k) and Wesley Apartments-A Methodist Home for the Aging Inc ($788k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 58% and program service revenue 41% of the total. At year end it held assets of $8.2m against liabilities of $71k, net assets of $8.2m.

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.