St Edmunds Redevelopment Corp

Analysis

St Edmunds Redevelopment Corp is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in September 1992, 34 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, St Edmunds Redevelopment Corp reported income of $147k and spending of $540k, spending 367% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $128k to $147k (+15%), an average of +3.6% a year. The sharpest change came in the year to December 2020, when income rose by 76%. Over the whole period it spent 299% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, St Edmunds Redevelopment Corp sits at the 31st percentile: it is larger than about 31% of them. Against every charity in United States with reported income it ranks in the 47th percentile, and in the 47th percentile within IL. Charities of a similar size with the same main cause include MHCPV Housing Inc ($147k), Barracks Project Inc ($148k) and William Enston Home ($147k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.0% and program service revenue 62% of the total. Compensation of current officers, directors and key employees was $197k (37% of expenses). Other salaries and wages came to $108k. At year end it held assets of $1.7m against liabilities of $21k, net assets of $1.6m. It reported 2 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.