Solon Community Living Inc

Analysis

Solon Community Living Inc is a registered charity in United States, based in Solon, OH. It received its IRS tax-exemption ruling in February 2021, 5 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 December 2023, Solon Community Living Inc reported income of $1.8m and spending of $177k, leaving 90% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $303k to $1.8m (+502%), an average of +57% a year. The sharpest change came in the year to December 2021, when income rose by 160%. Over the whole period it spent 8.7% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Solon Community Living Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 85th percentile within OH. Charities of a similar size with the same main cause include Forward Housing Corporation ($1.8m), Texas Retired Teachers Residence Corporation ($1.8m) and Columbia Catholic Housing for the Elderly II Inc ($1.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 87% and program service revenue 9.7% of the total. Other salaries and wages came to $78k. At year end it held assets of $5.8m against liabilities of $1.7m, net assets of $4.2m. It reported 1 employees.