Corona Community Villas Inc

Analysis

Corona Community Villas Inc is a registered charity in United States, based in Loma Linda, CA. It received its IRS tax-exemption ruling in July 1984, 42 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, Corona Community Villas Inc reported income of $1.7m and spending of $2.1m, spending 125% of what it took in. Across the 6 years on record, from September 2019 to December 2023, income fell from $14.7m to $1.7m (-89%), an average of -35% a year. The sharpest change came in the year to December 2023, when income rose by 299%. Over the whole period it spent 36% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Corona Community Villas Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 85th percentile within CA. Charities of a similar size with the same main cause include Galilee Mission to Fishermen Inc ($1.7m), Community House Housing Development Fund Company Inc ($1.7m) and Notre Dame Housing Development Fund Company Inc ($1.7m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. Compensation of current officers, directors and key employees was $27k (1.3% of expenses). At year end it held assets of $22.8m against liabilities of $23.0m, net assets of -$179k.

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.