Safe Housing and Economic Development Inc

Analysis

Safe Housing and Economic Development Inc is a registered charity in United States, based in Welch, WV. It received its IRS tax-exemption ruling in May 2003, 23 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 2023, Safe Housing and Economic Development Inc reported income of $477k and spending of $663k, spending 139% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $473k to $477k (+0.7%), an average of +0.2% a year. The sharpest change came in the year to June 2022, when income rose by 68%. Over the whole period it spent 123% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Safe Housing and Economic Development Inc sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 68th percentile within WV. Charities of a similar size with the same main cause include Project Kompass Incorporated ($477k), Village at the Bluffs Inc ($477k) and Center Housing Inc ($477k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $39k (5.9% of expenses). Other salaries and wages came to $196k. At year end it held assets of $2.5m against liabilities of $1.7m, net assets of $723k. It reported 9 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.