Salem Village III Inc

Analysis

Salem Village III Inc is a registered charity in United States, based in Des Plaines, IL. It received its IRS tax-exemption ruling in April 1987, 39 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Salem Village III Inc reported income of $4.7m and spending of $4.7m, spending 100% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $3.9m to $4.7m (+19%), an average of +6.0% a year. Over the whole period it spent 106% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Salem Village III Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 92nd percentile within IL. Charities of a similar size with the same main cause include Student Housing of America Inc ($4.7m), Cambridge Community Housing Inc ($4.7m) and Community Housing and Resources Inc ($4.7m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 99% of the total. Other salaries and wages came to $354k. At year end it held assets of $6.2m against liabilities of $11.3m, net assets of -$5.1m.

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.