Southwest Minnesota Housing Partnership

Analysis

Southwest Minnesota Housing Partnership is a registered charity in United States, based in Slayton, MN. It received its IRS tax-exemption ruling in March 1993, 33 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Southwest Minnesota Housing Partnership reported income of $14.7m and spending of $15.7m, spending 107% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $9.9m to $14.7m (+48%), an average of +10% a year. The sharpest change came in the year to December 2022, when income rose by 21%. Over the whole period it spent 109% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Southwest Minnesota Housing Partnership sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within MN. Charities of a similar size with the same main cause include Lutheran Home for the Aged Association - West ($14.6m), Cedar Lake Village Inc ($14.7m) and Overlook Communities Inc ($14.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 7.2% and program service revenue 86% of the total. Compensation of current officers, directors and key employees was $288k (1.8% of expenses). Other salaries and wages came to $1.7m. It paid $22k in professional fundraising fees. At year end it held assets of $68.4m against liabilities of $63.1m, net assets of $5.2m. It reported 33 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.