Mirabella at South Waterfront

Analysis

Mirabella at South Waterfront is a registered charity in United States, based in Portland, OR. It received its IRS tax-exemption ruling in June 2007, 19 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, Mirabella at South Waterfront reported income of $24.3m and spending of $35.7m, spending 147% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $24.1m to $24.3m (+1.0%), an average of +0.3% a year. Over the whole period it spent 125% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Mirabella at South Waterfront sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within OR. Charities of a similar size with the same main cause include Centre Care Inc ($24.3m), Rebuilding Together Inc ($24.3m) and Affordable Housing and Services Collaborative Inc ($24.2m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 1.8% and program service revenue 100% of the total. Compensation of current officers, directors and key employees was $289k (0.8% of expenses). Other salaries and wages came to $9.2m. At year end it held assets of $164.1m against liabilities of $264.9m, net assets of -$100.8m. It reported 312 employees.

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.