Owings Mills Senior Housing Inc

Analysis

Owings Mills Senior Housing Inc is a registered charity in United States, based in Timonium, MD. It received its IRS tax-exemption ruling in November 2002, 24 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, Owings Mills Senior Housing Inc reported income of $605k and spending of $727k, spending 120% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $543k to $605k (+11%), an average of +2.7% a year. Over the whole period it spent 120% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Owings Mills Senior Housing 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 72nd percentile within MD. Charities of a similar size with the same main cause include Arlington Senior Housing Inc ($604k), Monroe County Apartments 4 Assn ($605k) and Parklane Apartments Inc ($604k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 57% and program service revenue 43% of the total. Compensation of current officers, directors and key employees was $224k (31% of expenses). At year end it held assets of $3.6m against liabilities of $5.9m, net assets of -$2.2m.

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.