Phelps Foundation

Analysis

Phelps Foundation is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in May 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, Phelps Foundation reported income of $243k and spending of $118k, leaving 52% of income unspent that year. Across the 4 years on record, from December 2020 to December 2023, income grew from $188k to $243k (+29%), an average of +9.0% a year. The sharpest change came in the year to December 2023, when income rose by 955%. Over the whole period it spent 48% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Phelps Foundation sits at the 42nd percentile: it is larger than about 42% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 57th percentile within MI. Charities of a similar size with the same main cause include Sawyer Memorial Housing Inc ($243k), Aaa Elderly Housing - Heritage Villa of Pine Bluff Inc ($243k) and Sanctuary Village ($243k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% and program service revenue 0.4% of the total. At year end it held assets of $278k against liabilities of $87k, net assets of $191k.