Southgate Properties

Analysis

Southgate Properties is a registered charity in United States, based in Southgate, MI. It received its IRS tax-exemption ruling in June 1994, 32 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, Southgate Properties reported income of $2.6m and spending of $1.9m, leaving 26% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $2.3m to $2.6m (+13%), an average of +3.1% a year. Over the whole period it spent 67% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Southgate Properties sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 88th percentile within MI. Charities of a similar size with the same main cause include Philadelphia Yearly Meeting of Friends ($2.6m), International Union of Bricklayers and Allied Craftworkers ($2.6m) and Central Community House of Columbus Inc ($2.6m).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 98% of the total. Other salaries and wages came to $265k. At year end it held assets of $15.9m against liabilities of $1.6m, net assets of $14.2m.