Midtown Homes Inc

Analysis

Midtown Homes Inc is a registered charity in United States, based in San Rafael, CA. It received its IRS tax-exemption ruling in May 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Midtown Homes Inc reported income of $1.1m and spending of $1.6m, spending 145% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $666k to $1.1m (+61%), an average of +13% a year. The sharpest change came in the year to December 2020, when income rose by 41%. Over the whole period it spent 171% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Midtown Homes Inc sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 81st percentile within CA. Charities of a similar size with the same main cause include Danny S House ($1.1m), Paducah Alliance of Neighbors ($1.1m) and NHS Community Services LLC ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.4% and program service revenue 99% of the total. At year end it held assets of $152k against liabilities of $25.7m, net assets of -$25.5m.

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.