Benet Place

Analysis

Benet Place is a registered charity in United States, based in Shoreview, MN. It received its IRS tax-exemption ruling in June 1994, 32 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 December 2023, Benet Place reported income of $270k and spending of $229k, spending 85% of its income. Across the 6 years on record, from June 2019 to December 2023, income fell from $286k to $270k (-5.4%), an average of -1.1% a year. Over the whole period it spent 111% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Benet Place sits at the 44th percentile: it is larger than about 44% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 59th percentile within MN. Charities of a similar size with the same main cause include BPH Holding Co Inc ($270k), Punta Gorda Development Corporation ($270k) and Versailles Apartments Inc ($270k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 98% of the total. Compensation of current officers, directors and key employees was $20k (8.7% of expenses). Other salaries and wages came to $5,115. At year end it held assets of $1.1m against liabilities of $2.6m, net assets of -$1.5m. It reported 1 employees.