Phoenix Residence Inc

Analysis

Phoenix Residence Inc is a registered charity in United States, based in Saint Paul, MN. It received its IRS tax-exemption ruling in April 1975, 51 years ago. 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, Phoenix Residence Inc reported income of $12.3m and spending of $12.7m, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $11.8m to $12.3m (+4.1%), an average of +1.0% a year. The sharpest change came in the year to December 2020, when income rose by 22%. Over the whole period it spent 100% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Phoenix Residence Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 95th percentile within MN. Charities of a similar size with the same main cause include Aiken Barnwell Counties Community Action Agency Inc ($12.3m), Americas Vetdogs the Veterans K9 Corps Inc ($12.3m) and Ronald McDonald House Charities of San Diego Inc ($12.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.6% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $486k (3.8% of expenses). Other salaries and wages came to $7.9m. At year end it held assets of $9.3m against liabilities of $2.0m, net assets of $7.3m. It reported 401 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.