Spartanburg Area Housing Corporation

Analysis

Spartanburg Area Housing Corporation is a registered charity in United States, based in Spartanburg, SC. It received its IRS tax-exemption ruling in March 2018, 8 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 September 2023, Spartanburg Area Housing Corporation reported income of $231k and spending of $591k, spending 256% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $221k to $231k (+4.6%), an average of +1.1% a year. The sharpest change came in the year to September 2021, when income rose by 529%. Over the whole period it spent 114% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Spartanburg Area Housing Corporation sits at the 41st percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 62nd percentile within SC. Charities of a similar size with the same main cause include Jackson House II Inc ($231k), Advocates Co-Ops Corporation ($231k) and Ryder Assisted Care III Inc ($231k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 41% and program service revenue 59% of the total. Other salaries and wages came to $12k. At year end it held assets of $7.6m against liabilities of $3.9m, net assets of $3.7m.