Midwest Shelter for Homeless Veterans Inc

Analysis

Midwest Shelter for Homeless Veterans Inc is a registered charity in United States, based in Wheaton, IL. It received its IRS tax-exemption ruling in October 2005, 21 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Midwest Shelter for Homeless Veterans Inc reported income of $2.2m and spending of $2.6m, spending 117% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.7m to $2.2m (+33%), an average of +7.5% a year. The sharpest change came in the year to December 2020, when income rose by 55%. Over the whole period it spent 96% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Midwest Shelter for Homeless Veterans Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 86th percentile within IL. Charities of a similar size with the same main cause include Quincy Asian Resources Inc ($2.2m), Bannock Youth Foundation Inc ($2.2m) and WCDC Inc ($2.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% and program service revenue 2.9% of the total. Compensation of current officers, directors and key employees was $118k (4.6% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $3.7m against liabilities of $624k, net assets of $3.0m. It reported 19 employees.