City of Sumter Housing & Economic Developement Corporation

Analysis

City of Sumter Housing & Economic Developement Corporation is a registered charity in United States, based in Sumter, SC. It received its IRS tax-exemption ruling in October 1998, 28 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 2024, City of Sumter Housing & Economic Developement Corporation reported income of $1.3m and spending of $447k, leaving 66% of income unspent that year. Across the 6 years on record, from June 2019 to June 2024, income fell from $2.1m to $1.3m (-39%), an average of -9.5% a year. The sharpest change came in the year to June 2024, when income dropped by 46%. Over the whole period it spent 53% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, City of Sumter Housing & Economic Developement Corporation sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 85th percentile within SC. Charities of a similar size with the same main cause include Clearwater Homes Inc ($1.3m), Riverview Manor Inc ($1.3m) and Shoals Presbyterian Apartments Inc ($1.3m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 78% of the total. At year end it held assets of $6.4m against liabilities of $1,525, net assets of $6.4m.