Montgomery Park I United Methodist Housing Corporation

Analysis

Montgomery Park I 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, Montgomery Park I United Methodist Housing Corporation reported income of $165k and spending of $202k, spending 122% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $134k to $165k (+23%), an average of +7.3% a year. The sharpest change came in the year to June 2023, when income rose by 18%. Over the whole period it spent 134% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Montgomery Park I United Methodist Housing Corporation sits at the 33rd percentile: it is larger than about 33% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 49th percentile within VA. Charities of a similar size with the same main cause include Madison Community Housing Incorporated ($165k), Bridges to Housing Inc ($165k) and Lake Serenity Inc ($165k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 43% and program service revenue 57% of the total. Other salaries and wages came to $27k. At year end it held assets of $1.9m against liabilities of $2.8m, net assets of -$904k.

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.