Loretta Village Housing Inc

Analysis

Loretta Village Housing Inc is a registered charity in United States, based in Salisbury, MD. It received its IRS tax-exemption ruling in May 1995, 31 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 June 2023, Loretta Village Housing Inc reported income of $150k and spending of $165k, spending 110% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $136k to $150k (+11%), an average of +2.6% a year. Over the whole period it spent 118% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Loretta Village Housing Inc sits at the 31st percentile: it is larger than about 31% of them. Against every charity in United States with reported income it ranks in the 47th percentile, and in the 48th percentile within MD. Charities of a similar size with the same main cause include Lewiston Itc Elderly Housing Deveolpement Fund Corporation ($150k), Amsterdam Housing I Inc ($150k) and 77 Magazine House Inc ($150k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 59% and program service revenue 37% of the total. Other salaries and wages came to $44k. At year end it held assets of $477k against liabilities of $44k, net assets of $432k.

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.