St Mark Methodist Church Housing Foundation Inc

Analysis

St Mark Methodist Church Housing Foundation Inc is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in October 1989, 37 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, St Mark Methodist Church Housing Foundation Inc reported income of $1.4m and spending of $1.5m, spending 108% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $1.3m to $1.4m (+5.9%), an average of +1.9% a year. Over the whole period it spent 107% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, St Mark Methodist Church Housing Foundation Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 82nd percentile within IL. Charities of a similar size with the same main cause include Communities in Schools of Galveston County Inc ($1.4m), Wilkes Economic Development Corporation ($1.4m) and Bremer County Fair Association ($1.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.3% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $141k (9.1% of expenses). Other salaries and wages came to $181k. At year end it held assets of $3.9m against liabilities of $4.3m, net assets of -$474k. It reported 6 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.