Essential Living Inc

Analysis

Essential Living Inc is a registered charity in United States, based in Minot, ND. It received its IRS tax-exemption ruling in June 2016, 10 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, Essential Living Inc reported income of $603k and spending of $870k, spending 144% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $326k to $603k (+85%), an average of +17% a year. The sharpest change came in the year to December 2023, when income rose by 59%. Over the whole period it spent 139% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Essential Living Inc sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 70th percentile within ND. Charities of a similar size with the same main cause include Work Express Housing Inc ($603k), Macon RHF Housing Inc ($603k) and Waterford Dublin Development Inc ($602k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 85% of the total. At year end it held assets of $10.4m against liabilities of $11.5m, net assets of -$1.1m.

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.