Seven Corners Community Housing Corporation

Analysis

Seven Corners Community Housing Corporation is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in October 1985, 41 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 June 2024, Seven Corners Community Housing Corporation reported income of $3.4m and spending of $3.7m, spending 107% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $3.2m to $3.4m (+7.5%), an average of +1.8% a year. Over the whole period it spent 107% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Seven Corners Community Housing Corporation sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 89th percentile within MN. Charities of a similar size with the same main cause include Citizens Housing & Planning Association Inc ($3.4m), Habitat for Humanity International Inc ($3.4m) and Micah House Corporation ($3.4m).

On its Form 990 for the period ending June 2024, revenue came from program service revenue 99% of the total. At year end it held assets of $8.3m against liabilities of $15.5m, net assets of -$7.2m.

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.