Passman Plaza II Inc

Analysis

Passman Plaza II Inc is a registered charity in United States, based in Monroe, LA. It received its IRS tax-exemption ruling in September 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Passman Plaza II Inc reported income of $177k and spending of $270k, spending 152% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $146k to $177k (+21%), an average of +5.0% a year. The sharpest change came in the year to June 2024, when income rose by 21%. Over the whole period it spent 144% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Passman Plaza II Inc sits at the 35th percentile: it is larger than about 35% of them. Against every charity in United States with reported income it ranks in the 51st percentile, and in the 50th percentile within LA. Charities of a similar size with the same main cause include Brookside Apartments Inc ($177k), Rayo Planning ($177k) and Life House Corporation ($177k).

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 $47k. At year end it held assets of $1.4m against liabilities of $2.2m, net assets of -$765k.

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.