Southern Indiana Community Housing Corporation

Analysis

Southern Indiana Community Housing Corporation is a registered charity in United States, based in New Albany, IN. It received its IRS tax-exemption ruling in June 2015, 11 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 March 2023, Southern Indiana Community Housing Corporation reported income of $818k and spending of $1.1m, spending 131% of what it took in. Across the 5 years on record, from March 2019 to March 2023, income fell from $5.9m to $818k (-86%), an average of -39% a year. The sharpest change came in the year to March 2020, when income dropped by 74%. Over the whole period it spent 72% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Southern Indiana Community Housing Corporation sits at the 68th 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 77th percentile within IN. Charities of a similar size with the same main cause include Point of Freedom ($817k), Affordable Housing Clearinghouse ($819k) and United Way Capital Corporation ($817k).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 0.3% and program service revenue 98% of the total. At year end it held assets of $2.9m against liabilities of $164k, net assets of $2.8m.

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.