Southwest Housing Solutions Corporation

Analysis

Southwest Housing Solutions Corporation is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in February 1989, 37 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Southwest Housing Solutions Corporation reported income of $6.6m and spending of $5.0m, leaving 24% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $4.8m to $6.6m (+36%), an average of +8.1% a year. The sharpest change came in the year to September 2023, when income rose by 45%. Over the whole period it spent 87% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Southwest Housing Solutions Corporation sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within MI. Charities of a similar size with the same main cause include Has Development Corporation ($6.6m), Western Berks Ambulance Association ($6.6m) and Access Alaska Inc ($6.6m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 39% and program service revenue 48% of the total. Compensation of current officers, directors and key employees was $203k (4.0% of expenses). Other salaries and wages came to $1.4m. At year end it held assets of $35.5m against liabilities of $8.6m, net assets of $26.9m. It reported 30 employees.