Affordable Housing Corporation of Marion Indiana

Analysis

Affordable Housing Corporation of Marion Indiana is a registered charity in United States, based in Marion, IN. It received its IRS tax-exemption ruling in July 1996, 30 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 June 2023, Affordable Housing Corporation of Marion Indiana reported income of $1.2m and spending of $1.4m, spending 116% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $2.2m to $1.2m (-43%), an average of -13% a year. The sharpest change came in the year to June 2022, when income rose by 63%. Over the whole period it spent 101% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Affordable Housing Corporation of Marion Indiana sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 82nd percentile within IN. Charities of a similar size with the same main cause include Highbridge Senior Housing Development Fund Corporation ($1.2m), Exodus Housing ($1.2m) and Ridgecrest at Richfield ($1.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 11% and program service revenue 86% of the total. Other salaries and wages came to $395k. At year end it held assets of $6.9m against liabilities of $152k, net assets of $6.8m. It reported 11 employees.

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.