Kingstree Housing Development Company Inc

Analysis

Kingstree Housing Development Company Inc is a registered charity in United States, based in Kingstree, SC. It received its IRS tax-exemption ruling in March 2019, 7 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 2024, Kingstree Housing Development Company Inc reported income of $1.1m and spending of $1.3m, spending 120% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income grew from $692k to $1.1m (+55%), an average of +9.1% a year. The sharpest change came in the year to June 2020, when income rose by 29%. Over the whole period it spent 150% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Kingstree Housing Development Company Inc sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 83rd percentile within SC. Charities of a similar size with the same main cause include Little City for Community Development ($1.1m), New Life Village Inc ($1.1m) and Rebuilding Together Baltimore Inc ($1.1m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 64% and program service revenue 35% of the total. Other salaries and wages came to $240k. At year end it held assets of $3.3m against liabilities of $3.2m, net assets of $94k. It reported 8 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.