Sloan Street Housing Development Corporation II

Analysis

Sloan Street Housing Development Corporation II is a registered charity in United States, based in Anderson, SC. It received its IRS tax-exemption ruling in May 1997, 29 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, Sloan Street Housing Development Corporation II reported income of $160k and spending of $178k, spending 112% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $129k to $160k (+24%), an average of +5.5% a year. Over the whole period it spent 110% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Sloan Street Housing Development Corporation II sits at the 33rd percentile: it is larger than about 32% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 54th percentile within SC. Charities of a similar size with the same main cause include Over the Rainbow Unit I ($160k), Coalition for Better Living ($160k) and Golden Rule Community Development Corporation ($160k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 98% of the total. Other salaries and wages came to $49k. At year end it held assets of $843k against liabilities of $1.3m, net assets of -$408k.

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.