Millsboro Housing for Progress Inc

Analysis

Millsboro Housing for Progress Inc is a registered charity in United States, based in Millsboro, DE. It received its IRS tax-exemption ruling in August 1977, 49 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, Millsboro Housing for Progress Inc reported income of $658k and spending of $525k, leaving 20% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.0m to $658k (-35%), an average of -10% a year. The sharpest change came in the year to December 2021, when income rose by 249%. Over the whole period it spent 51% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Millsboro Housing for Progress Inc sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 70th percentile within DE. Charities of a similar size with the same main cause include Apostles Village Inc ($657k), Long Beach Senior Citizen Housing Corporation ($658k) and B Nai B Rith Covenant House II of Tucson Inc ($657k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. Other salaries and wages came to $55k. At year end it held assets of $7.0m against liabilities of $1.2m, net assets of $5.8m.