Benet Place South

Analysis

Benet Place South is a registered charity in United States, based in Shoreview, MN. It received its IRS tax-exemption ruling in November 1998, 28 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 South reported income of $250k and spending of $229k, spending 91% of its income. Across the 6 years on record, from June 2019 to December 2023, income fell from $262k to $250k (-4.5%), an average of -0.9% a year. The sharpest change came in the year to June 2022, when income rose by 42%. Over the whole period it spent 112% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Benet Place South sits at the 42nd percentile: it is larger than about 42% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 57th percentile within MN. Charities of a similar size with the same main cause include Prelude Si Corporation ($250k), Sunset Woods Association ($250k) and Deborahs Legacy Inc ($250k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. Compensation of current officers, directors and key employees was $20k (8.7% of expenses). Other salaries and wages came to $2,115. At year end it held assets of $1.2m against liabilities of $2.8m, net assets of -$1.6m.