Solon Community Housing Corporation

Analysis

Solon Community Housing Corporation is a registered charity in United States, based in Solon, IA. It received its IRS tax-exemption ruling in February 1999, 27 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, Solon Community Housing Corporation reported income of $126k and spending of $139k, spending 110% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $124k to $126k (+1.8%), an average of +0.5% a year. The sharpest change came in the year to December 2022, when income rose by 54%. Over the whole period it spent 86% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Solon Community Housing Corporation sits at the 28th percentile: it is larger than about 28% of them. Against every charity in United States with reported income it ranks in the 43rd percentile, and in the 42nd percentile within IA. Charities of a similar size with the same main cause include For Vietnam ($126k), Diamond Heights Inc ($126k) and Pahc Sheridan Apartments Inc ($126k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 98% of the total. At year end it held assets of $676k against liabilities of $548k, net assets of $128k.