Martnas Terrace Housing Corporation

Analysis

Martnas Terrace Housing Corporation is a registered charity in United States, based in Salt Lake Cty, UT. It received its IRS tax-exemption ruling in January 1985, 41 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 June 2023, Martnas Terrace Housing Corporation reported income of $354k and spending of $357k, spending 101% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $308k to $354k (+15%), an average of +3.5% a year. Over the whole period it spent 107% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Martnas Terrace Housing Corporation sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 63rd percentile within UT. Charities of a similar size with the same main cause include Gault Street Senior Housing a Ca Nonprofit Public Benefit Corp ($354k), Tremont Place Housing Corporation ($354k) and Ridgeway Village Associates Inc ($354k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 63% and program service revenue 37% of the total. Other salaries and wages came to $23k. At year end it held assets of $745k against liabilities of $1.1m, net assets of -$400k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.