Midland Area Homes Inc

Analysis

Midland Area Homes Inc is a registered charity in United States, based in Midland, MI. It received its IRS tax-exemption ruling in August 1971, 55 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Midland Area Homes Inc reported income of $1.2m and spending of $1.2m, spending 93% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $831k to $1.2m (+49%), an average of +10% a year. The sharpest change came in the year to September 2021, when income rose by 227%. Over the whole period it spent 95% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Midland Area Homes Inc 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 MI. Charities of a similar size with the same main cause include Habitat for Missionariesincorporated ($1.2m), Rancho Meridian Mobilehome Park Corporation ($1.2m) and First Parish Housing of Fitchburg Inc ($1.2m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 98% of the total. Other salaries and wages came to $289k. At year end it held assets of $1.4m against liabilities of $18k, net assets of $1.4m. It reported 20 employees.