Socayr Inc

Analysis

Socayr Inc is a registered charity in United States, based in Louisville, KY. It received its IRS tax-exemption ruling in May 2001, 25 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, Socayr Inc reported income of $6.2m and spending of $6.6m, spending 106% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.9m to $6.2m (+59%), an average of +12% a year. The sharpest change came in the year to December 2022, when income rose by 99%. Over the whole period it spent 86% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Socayr Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within KY. Charities of a similar size with the same main cause include Brookdale Village Housing Corporation ($6.2m), Valley Residential Services ($6.2m) and CPC Tenant and Building Services Inc ($6.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 15% and program service revenue 80% of the total. Other salaries and wages came to $1.3m. At year end it held assets of $41.0m against liabilities of $24.2m, net assets of $16.8m.