Siloam Missionary Homes

Analysis

Siloam Missionary Homes is a registered charity in United States, based in Snow Camp, NC. It received its IRS tax-exemption ruling in August 1992, 34 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 2023, Siloam Missionary Homes reported income of $338k and spending of $432k, spending 128% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $335k to $338k (+1.0%), an average of +0.3% a year. Over the whole period it spent 117% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Siloam Missionary Homes sits at the 49th percentile: it is larger than about 49% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 62nd percentile within NC. Charities of a similar size with the same main cause include McAuley Manor Inc ($338k), Community Advancement Development Corporation ($338k) and First Baptist Apple Street Housing Foundation ($338k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $119k (28% of expenses). Other salaries and wages came to $104k. At year end it held assets of $1.0m against liabilities of $94k, net assets of $908k. It reported 8 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.