Mirabella at Asu Inc

Analysis

Mirabella at Asu Inc is a registered charity in United States, based in Tempe, AZ. It received its IRS tax-exemption ruling in August 2017, 9 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 September 2023, Mirabella at Asu Inc reported income of $17.6m and spending of $41.2m, spending 233% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $3.4m to $17.6m (+423%), an average of +51% a year. The sharpest change came in the year to September 2021, when income rose by 177%. Over the whole period it spent 252% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Mirabella at Asu Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 96th percentile within AZ. Charities of a similar size with the same main cause include Abes Garden ($17.6m), Energy Resource Center ($17.7m) and JHL Corporate Services Inc ($17.6m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 1.6% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $255k (0.6% of expenses). Other salaries and wages came to $7.9m. At year end it held assets of $252.0m against liabilities of $321.0m, net assets of -$69.0m. It reported 329 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.