Peninsula Housing Development Inc IX

Analysis

Peninsula Housing Development Inc IX is a registered charity in United States, based in Miami, FL. It received its IRS tax-exemption ruling in November 1996, 30 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 March 2023, Peninsula Housing Development Inc IX reported income of $502k and spending of $841k, spending 168% of what it took in. Across the 4 years on record, from March 2020 to March 2023, income fell from $520k to $502k (-3.5%), an average of -1.2% a year. Over the whole period it spent 159% 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 IX sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 73rd percentile within FL. Charities of a similar size with the same main cause include Altadena Blessing Corporation ($502k), Habitat for Humanity International Inc ($502k) and Ivy Plaza Housing Corporation ($501k).

On its Form 990 for the period ending March 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $74k. At year end it held assets of $9.1m against liabilities of $11.0m, net assets of -$1.9m.

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.