Salem Inc

Analysis

Salem Inc is a registered charity in United States, based in Brooklyn Park, MN. It received its IRS tax-exemption ruling in November 2021, 5 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, Salem Inc reported income of $841k and spending of $766k, spending 91% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $351k to $841k (+140%), an average of +24% a year. The sharpest change came in the year to December 2022, when income rose by 70%. Over the whole period it spent 87% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Salem Inc sits at the 69th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 76th percentile within MN. Charities of a similar size with the same main cause include Housing Corporation of Arlington ($840k), Greensboro United Methodist Housing Inc ($841k) and Beattyville Housing & Development Corporation Inc ($840k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 77% and program service revenue 23% of the total. Compensation of current officers, directors and key employees was $59k (7.7% of expenses). Other salaries and wages came to $542k. At year end it held assets of $1.9m against liabilities of $812k, net assets of $1.1m.