Pinellas Affordable Living Inc

Analysis

Pinellas Affordable Living Inc is a registered charity in United States, based in St Petersburg, FL. It received its IRS tax-exemption ruling in June 1994, 32 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, Pinellas Affordable Living Inc reported income of $1.7m and spending of $2.4m, spending 143% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $920k to $1.7m (+85%), an average of +17% a year. The sharpest change came in the year to June 2021, when income rose by 70%. Over the whole period it spent 132% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Pinellas Affordable Living Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 86th percentile within FL. Charities of a similar size with the same main cause include Mhany 2004 Housing Development Fund Corporation ($1.7m), Mayflower Gardens II ($1.7m) and Amherst Towne Senior Apartments Inc ($1.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 45% and program service revenue 55% of the total. Other salaries and wages came to $22k. At year end it held assets of $25.7m against liabilities of $25.6m, net assets of $59k. It reported 1 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.