Meeting the Needs of Our Community Inc

Analysis

Meeting the Needs of Our Community Inc is a registered charity in United States, based in St Thomas, VI. It received its IRS tax-exemption ruling in June 2003, 23 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, Meeting the Needs of Our Community Inc reported income of $4.5m and spending of $4.5m, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.2m to $4.5m (+284%), an average of +40% a year. The sharpest change came in the year to December 2023, when income rose by 86%. Over the whole period it spent 101% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Meeting the Needs of Our Community Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 95th percentile within VI. Charities of a similar size with the same main cause include Jas Non Profit Housing Corporation VI ($4.5m), Salem Y Veterans Housing ($4.5m) and Urban Homesteading Assistance U-Hab ($4.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 24% and program service revenue 0.6% of the total. Other salaries and wages came to $454k. At year end it held assets of $1.0m against liabilities of $970k, net assets of $58k.

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.