Liberty Woods Senior Housing Cooperative Inc

Analysis

Liberty Woods Senior Housing Cooperative Inc is a registered charity in United States, based in Spring Lake, MI. It received its IRS tax-exemption ruling in July 1998, 28 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 March 2023, Liberty Woods Senior Housing Cooperative Inc reported income of $336k and spending of $450k, spending 134% of what it took in. Across the 5 years on record, from March 2019 to March 2023, income fell from $426k to $336k (-21%), an average of -5.7% a year. The sharpest change came in the year to March 2020, when income dropped by 27%. Over the whole period it spent 120% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Liberty Woods Senior Housing Cooperative Inc sits at the 49th percentile: it is larger than about 48% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 64th percentile within MI. Charities of a similar size with the same main cause include We Are One Heart Foundation Inc ($336k), Ashland Care Givers Association ($337k) and Workforce Housing of Okeechobee Inc ($336k).

On its Form 990 for the period ending March 2023, revenue came from program service revenue 99% of the total. Other salaries and wages came to $53k. At year end it held assets of $954k against liabilities of $45k, net assets of $909k.

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.