U Snap Bac Inc

Analysis

U Snap Bac Inc is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in December 1993, 33 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 September 2023, U Snap Bac Inc reported income of $623k and spending of $833k, spending 134% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $976k to $623k (-36%), an average of -11% a year. The sharpest change came in the year to September 2021, when income rose by 202%. Over the whole period it spent 91% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, U Snap Bac Inc sits at the 63rd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 73rd percentile within MI. Charities of a similar size with the same main cause include RVM Davis Housing Corporation ($623k), Salvation Army North Las Vegas Residences Inc ($623k) and Mississippi Housing Development ($623k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 78% and program service revenue 14% of the total. Compensation of current officers, directors and key employees was $104k (12% of expenses). Other salaries and wages came to $169k. At year end it held assets of $450k against liabilities of $0, net assets of $450k. It reported 6 employees.