Truenorth Center for Nonprofit Housing

Analysis

Truenorth Center for Nonprofit Housing is a registered charity in United States, based in Fremont, MI. It received its IRS tax-exemption ruling in May 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 December 2023, Truenorth Center for Nonprofit Housing reported income of $747k and spending of $812k, spending 109% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $339k to $747k (+121%), an average of +22% a year. The sharpest change came in the year to December 2023, when income rose by 62%. Over the whole period it spent 109% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Truenorth Center for Nonprofit Housing sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 76th percentile within MI. Charities of a similar size with the same main cause include American Friends of Yeshivat Ateret Hatora Inc ($747k), Hillel the Foundation for Jewish Campus Life ($747k) and The Open Door of Perquimans County Inc ($747k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 89% and program service revenue 9.0% of the total. Other salaries and wages came to $144k. At year end it held assets of $1.3m against liabilities of $414k, net assets of $870k. It reported 4 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.