Passman Plaza Inc

Analysis

Passman Plaza Inc is a registered charity in United States, based in Monroe, LA. It received its IRS tax-exemption ruling in August 1995, 31 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 June 2024, Passman Plaza Inc reported income of $222k and spending of $275k, spending 124% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $145k to $222k (+53%), an average of +11% a year. The sharpest change came in the year to June 2022, when income rose by 21%. Over the whole period it spent 130% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Passman Plaza Inc sits at the 40th percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 55th percentile within LA. Charities of a similar size with the same main cause include Mantua I Corporation ($222k), Family Promise of Davie County ($222k) and Butte Affordable Housing Inc ($222k).

On its Form 990 for the period ending June 2024, revenue came from program service revenue 98% of the total. Other salaries and wages came to $48k. At year end it held assets of $1.3m against liabilities of $2.1m, net assets of -$818k.

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.