Miracle Square Inc

Analysis

Miracle Square Inc is a registered charity in United States, based in West Columbia, SC. It received its IRS tax-exemption ruling in September 2006, 20 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 December 2022, Miracle Square Inc reported income of $87k and spending of $103k, spending 118% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income grew from $85k to $87k (+3.3%), an average of +1.1% 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, Miracle Square Inc sits at the 19th percentile: it is larger than about 19% of them. Against every charity in United States with reported income it ranks in the 33rd percentile, and in the 39th percentile within SC. Charities of a similar size with the same main cause include Mermentau Elderly Housing Corporation ($87k), Pear Grove Inc ($87k) and Gleanings Housing Inc ($87k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 72% and program service revenue 28% of the total. At year end it held assets of $854k against liabilities of $1.1m, net assets of -$291k.

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.