Oakman Village Manor Senior Housing Development Corp

Analysis

Oakman Village Manor Senior Housing Development Corp is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in May 2004, 22 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, Oakman Village Manor Senior Housing Development Corp reported income of $531k and spending of $699k, spending 132% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $477k to $531k (+11%), an average of +2.8% a year. Over the whole period it spent 136% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Oakman Village Manor Senior Housing Development Corp sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 71st percentile within MI. Charities of a similar size with the same main cause include Core Association Inc ($531k), Neighborhood Hope Dealers Inc ($531k) and Lake County Community Housing ($531k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 99% of the total. Compensation of current officers, directors and key employees was $75k (11% of expenses). Other salaries and wages came to $32k. At year end it held assets of $3.8m against liabilities of $5.8m, net assets of -$2.0m. It reported 3 employees.

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.