Presbyterian Towers Inc

Analysis

Presbyterian Towers Inc is a registered charity in United States, based in St Petersburg, FL. It received its IRS tax-exemption ruling in November 1966, 60 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 September 2024, Presbyterian Towers Inc reported income of $2.0m and spending of $1.7m, spending 88% of its income. Across the 6 years on record, from September 2019 to September 2024, income grew from $1.5m to $2.0m (+32%), an average of +5.7% a year. The sharpest change came in the year to September 2024, when income rose by 17%. Over the whole period it spent 93% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Presbyterian Towers Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 87th percentile within FL. Charities of a similar size with the same main cause include Habitat for Humanity International Inc ($2.0m), Genesis Residential ($2.0m) and Justice for Housing Inc ($1.9m).

On its Form 990 for the period ending September 2024, revenue came from program service revenue 97% of the total. Other salaries and wages came to $382k. At year end it held assets of $3.1m against liabilities of $197k, net assets of $2.9m. It reported 13 employees.