Staunton United Methodist Housing Corporation

Analysis

Staunton United Methodist Housing Corporation is a registered charity in United States, based in Alexandria, VA. It received its IRS tax-exemption ruling in February 2004, 22 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 2023, Staunton United Methodist Housing Corporation reported income of $263k and spending of $349k, spending 132% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $219k to $263k (+20%), an average of +6.4% a year. Over the whole period it spent 135% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Staunton United Methodist Housing Corporation sits at the 43rd percentile: it is larger than about 43% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 59th percentile within VA. Charities of a similar size with the same main cause include Columbian Retirement Home Inc ($263k), Hart Residences Inc ($263k) and St James Plaza Inc ($263k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 45% and program service revenue 55% of the total. Other salaries and wages came to $40k. At year end it held assets of $3.3m against liabilities of $4.9m, net assets of -$1.6m.

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.