Peninsula Housing Development Inc VII

Analysis

Peninsula Housing Development Inc VII is a registered charity in United States, based in Miami, FL. It received its IRS tax-exemption ruling in August 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, Peninsula Housing Development Inc VII reported income of $629k and spending of $769k, spending 122% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $536k to $629k (+17%), an average of +4.1% a year. Over the whole period it spent 128% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Peninsula Housing Development Inc VII sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 76th percentile within FL. Charities of a similar size with the same main cause include Gaston Area Lutheran Foundation Inc ($629k), Find Feed & Restore ($629k) and Fairfield County School District Education Foundation ($629k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $78k. At year end it held assets of $2.4m against liabilities of $5.8m, net assets of -$3.4m.

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.