Myplace Inc

Analysis

Myplace Inc is a registered charity in United States, based in Jackson, MI. It received its IRS tax-exemption ruling in November 2020, 6 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 August 2023, Myplace Inc reported income of $271k and spending of $249k, spending 92% of its income. Across the 2 years on record, from August 2022 to August 2023, income grew from $217k to $271k (+25%), an average of +25% a year. The sharpest change came in the year to August 2023, when income rose by 25%. Over the whole period it spent 88% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Myplace Inc sits at the 44th percentile: it is larger than about 44% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 60th percentile within MI. Charities of a similar size with the same main cause include Family Promise of Albany County ($271k), Blackford-Grant Hud IV ($271k) and Genesis House Inc ($271k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 65% of the total. Compensation of current officers, directors and key employees was $73k (29% of expenses). Other salaries and wages came to $70k. At year end it held assets of $162k against liabilities of $0, net assets of $162k.