South of Market Mercy Housing

Analysis

South of Market Mercy Housing is a registered charity in United States, based in Denver, CO. It received its IRS tax-exemption ruling in July 1994, 32 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, South of Market Mercy Housing reported income of $176k and spending of $8.7m, spending 4919% of what it took in. The sharpest change came in the year to December 2021, when income rose by 70%. Over the whole period it spent -1437% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, South of Market Mercy Housing 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 51st percentile, and in the 47th percentile within CO. Charities of a similar size with the same main cause include Little League Baseball Inc ($176k), PTA California Congress of Parents Teachers & Students Inc ($176k) and American Friends of Neve Hanna Inc ($176k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 27% and program service revenue 63% of the total. At year end it held assets of $2.4m against liabilities of $49.5m, net assets of -$47.1m.

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.