Fairmount Park Senior Housing Inc

Analysis

Fairmount Park Senior Housing Inc is a registered charity in United States, based in Des Moines, IA. It received its IRS tax-exemption ruling in September 1997, 29 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 June 2024, Fairmount Park Senior Housing Inc reported income of $309k and spending of $329k, spending 106% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $176k to $309k (+76%), an average of +15% a year. The sharpest change came in the year to June 2024, when income rose by 31%. Over the whole period it spent 146% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Fairmount Park Senior Housing Inc sits at the 47th percentile: it is larger than about 47% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 64th percentile within IA. Charities of a similar size with the same main cause include Lasalle Park Homes II Inc ($308k), Ti-Hwa Foundation ($309k) and Fellowship Fund for the Aged Housing Co ($308k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 24% and program service revenue 71% of the total. At year end it held assets of $1.2m against liabilities of $2.7m, net assets of -$1.5m.

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.