Vesta Three Inc

Analysis

Vesta Three Inc is a registered charity in United States, based in Lanham, MD. It received its IRS tax-exemption ruling in February 1996, 30 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 June 2023, Vesta Three Inc reported income of $164k and spending of $178k, spending 108% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $167k to $164k (-1.6%), an average of -0.4% a year. Over the whole period it spent 123% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Vesta Three Inc sits at the 33rd percentile: it is larger than about 33% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 49th percentile within MD. Charities of a similar size with the same main cause include Russellville Senior Housing Inc ($164k), Armistead Apartments Inc ($164k) and Housing Opportunites Team ($164k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 98% of the total. Other salaries and wages came to $7,743. At year end it held assets of $753k against liabilities of $1.6m, net assets of -$891k.

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.