Southside Community Development and Housing Corporation

Analysis

Southside Community Development and Housing Corporation is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in June 1989, 37 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, Southside Community Development and Housing Corporation reported income of $2.6m and spending of $2.3m, spending 90% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $4.1m to $2.6m (-36%), an average of -11% a year. The sharpest change came in the year to June 2023, when income dropped by 41%. Over the whole period it spent 103% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Southside Community Development and Housing Corporation sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 89th percentile within VA. Charities of a similar size with the same main cause include Govans Ecumenical Development Corporation ($2.6m), Westminster Rescue Mission Inc ($2.6m) and North Fork Housing Alliance Inc ($2.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 64% of the total. Compensation of current officers, directors and key employees was $170k (7.2% of expenses). Other salaries and wages came to $751k. At year end it held assets of $13.3m against liabilities of $7.2m, net assets of $6.1m. It reported 20 employees.