Qumbya Housing Cooperative

Analysis

Qumbya Housing Cooperative is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in June 2009, 17 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 August 2023, Qumbya Housing Cooperative reported income of $474k and spending of $441k, spending 93% of its income. Across the 5 years on record, from August 2019 to August 2023, income fell from $616k to $474k (-23%), an average of -6.3% a year. Over the whole period it spent 103% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Qumbya Housing Cooperative sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 69th percentile within IL. Charities of a similar size with the same main cause include Fairview Senior Housing Inc ($474k), Aallapattah Wynwood Community and Development Center ($474k) and Spring Valley Elderly Housing Inc ($473k).

On its Form 990 for the period ending August 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $131k against liabilities of $34k, net assets of $97k.