Southeast Affordable Housing Corporation

Analysis

Southeast Affordable Housing Corporation is a registered charity in United States, based in Tuscaloosa, AL. It received its IRS tax-exemption ruling in February 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 (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, Southeast Affordable Housing Corporation reported income of $355k and spending of $18k, leaving 95% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $755k to $355k (-53%), an average of -17% a year. The sharpest change came in the year to December 2022, when income dropped by 74%. Over the whole period it spent 6.0% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Southeast Affordable Housing Corporation sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 67th percentile within AL. Charities of a similar size with the same main cause include Hawley Winton Housing Dev FND Co Walter Ludovico Apartments ($355k), Elderly Housing of West Union Inc ($355k) and Beyond 90 Inc ($355k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.6% of the total. At year end it held assets of $10.1m against liabilities of -$218, net assets of $10.1m.