Palm Springs Senior Housing Inc

Analysis

Palm Springs Senior Housing Inc is a registered charity in United States, based in Warren, MI. It received its IRS tax-exemption ruling in February 1994, 32 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 June 2024, Palm Springs Senior Housing Inc reported income of $712k and spending of $798k, spending 112% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $600k to $712k (+19%), an average of +4.4% a year. Over the whole period it spent 106% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Palm Springs Senior Housing Inc sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 75th percentile within MI. Charities of a similar size with the same main cause include TG 104 Inc ($712k), Lifehouse Inc ($713k) and Consortium for Housing and Asset Management Inc ($712k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 59% and program service revenue 39% of the total. At year end it held assets of $2.7m against liabilities of $101k, net assets of $2.6m.

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.