Edgewood Village Nonprofit Housing Corporation

Analysis

Edgewood Village Nonprofit Housing Corporation is a registered charity in United States, based in East Lansing, MI. It received its IRS tax-exemption ruling in September 1994, 32 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, Edgewood Village Nonprofit Housing Corporation reported income of $170k and spending of $386k, spending 227% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $6.5m to $170k (-97%), an average of -60% a year. The sharpest change came in the year to December 2020, when income dropped by 96%. Over the whole period it spent 40% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Edgewood Village Nonprofit Housing Corporation sits at the 34th percentile: it is larger than about 34% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 49th percentile within MI. Charities of a similar size with the same main cause include Vernon Street Housing Inc ($170k), Loretto Apartments at Obrien Road Housing Development Fund Co Inc ($170k) and Jackson Free Clinic for the Homeless ($170k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 9.5% and program service revenue 5.1% of the total. Other salaries and wages came to $207k. At year end it held assets of $6.4m against liabilities of $144k, net assets of $6.3m. It reported 7 employees.

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.