Sharon Towers Foundation

Analysis

Sharon Towers Foundation is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in June 2022, 4 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Sharon Towers Foundation reported income of $1.1m and spending of $86k, leaving 92% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income grew from $1.0m to $1.1m (+11%), an average of +5.1% a year. Over the whole period it spent 6.2% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Sharon Towers Foundation 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 81st percentile within NC. Charities of a similar size with the same main cause include Villa San Luis Charitable Trust ($1.1m), Housing Opportunities for People ($1.1m) and Fort Schuyler House Inc ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 90% of the total. Other salaries and wages came to $75k. At year end it held assets of $3.1m against liabilities of $193k, net assets of $2.9m.