Peninsula Housing Development Inc Xiii

Analysis

Peninsula Housing Development Inc Xiii is a registered charity in United States, based in Miami, FL. It received its IRS tax-exemption ruling in April 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Peninsula Housing Development Inc Xiii reported income of $778k and spending of $984k, spending 126% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $597k to $778k (+30%), an average of +6.9% a year. The sharpest change came in the year to September 2023, when income rose by 25%. Over the whole period it spent 127% 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 Xiii sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 78th percentile within FL. Charities of a similar size with the same main cause include Shively Area Ministries Inc ($778k), Worcester New Horizons Inc ($779k) and National Lutheran Home for the Aged Incorporated ($778k).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 81% of the total. Other salaries and wages came to $127k. At year end it held assets of $3.4m against liabilities of $7.1m, net assets of -$3.6m.

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.