Phoenix Ministries 3 Inc

Analysis

Phoenix Ministries 3 Inc is a registered charity in United States, based in Denver, CO. It received its IRS tax-exemption ruling in March 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Phoenix Ministries 3 Inc reported income of $806k and spending of $875k, spending 109% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $725k to $806k (+11%), an average of +2.7% a year. 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, Phoenix Ministries 3 Inc 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 75th percentile within CO. Charities of a similar size with the same main cause include Good Neighbors Housing Inc ($806k), Prestigious Academy Inc ($806k) and Natchitoches Thomas Apartments Inc ($806k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 67% and program service revenue 32% of the total. At year end it held assets of $6.5m against liabilities of $2.9m, net assets of $3.6m.

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.