I58 Inc

Analysis

I58 Inc is a registered charity in United States, based in Chester, SC. It received its IRS tax-exemption ruling in April 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 December 2023, I58 Inc reported income of $590k and spending of $443k, leaving 25% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income fell from $736k to $590k (-20%), an average of -10% a year. The sharpest change came in the year to December 2023, when income dropped by 43%. Over the whole period it spent 85% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, I58 Inc sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 77th percentile within SC. Charities of a similar size with the same main cause include Rci Village Properties ($590k), Housing Helpers Inc ($590k) and Peris Foundation ($590k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 1.9% of the total. Compensation of current officers, directors and key employees was $50k (11% of expenses). Other salaries and wages came to $26k. At year end it held assets of $684k against liabilities of $209k, net assets of $476k. It reported 4 employees.