Marygrove Nonprofit Housing Corporation II

Analysis

Marygrove Nonprofit Housing Corporation II is a registered charity in United States, based in Warren, MI. It received its IRS tax-exemption ruling in November 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Marygrove Nonprofit Housing Corporation II reported income of $668k and spending of $760k, spending 114% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $571k to $668k (+17%), an average of +4.0% a year. Over the whole period it spent 130% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Marygrove Nonprofit Housing Corporation II sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 74th percentile within MI. Charities of a similar size with the same main cause include Bayview Senior Housing Inc ($668k), Friends of the Homeless of Tuscarawas County Inc ($668k) and RVM Lively Oak Housing Corporation ($668k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.5% and program service revenue 96% of the total. At year end it held assets of $2.1m against liabilities of $842k, net assets of $1.3m.

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.