Midpen Property Management Corporation

Analysis

Midpen Property Management Corporation is a registered charity in United States, based in Foster City, CA. It received its IRS tax-exemption ruling in January 1971, 55 years ago. 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 December 2023, Midpen Property Management Corporation reported income of $11.9m and spending of $10.9m, spending 92% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $7.6m to $11.9m (+55%), an average of +12% a year. The sharpest change came in the year to December 2021, when income rose by 109%. Over the whole period it spent 99% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Midpen Property Management Corporation sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within CA. Charities of a similar size with the same main cause include Onegeneration ($11.9m), Star of Hope Activity Center Inc ($11.9m) and Community Health Center of the Black Hills Inc ($11.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.0% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $2.6m (24% of expenses). Other salaries and wages came to $4.1m. At year end it held assets of $7.2m against liabilities of $3.4m, net assets of $3.8m. It reported 665 employees.