The Salvation Army Lake View Terrace Residences Inc

Analysis

The Salvation Army Lake View Terrace Residences Inc is a registered charity in United States, based in RCH Palos VRD, CA. It received its IRS tax-exemption ruling in April 2000, 26 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 September 2023, The Salvation Army Lake View Terrace Residences Inc reported income of $620k and spending of $792k, spending 128% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $526k to $620k (+18%), an average of +4.2% a year. Over the whole period it spent 143% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, The Salvation Army Lake View Terrace Residences Inc sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 75th percentile within CA. Charities of a similar size with the same main cause include Mhany Dumont Housing Development Fund Corporation ($620k), Cornerstone Folsom Gardens Corporation II ($620k) and Open Hearts and Homes for Children ($620k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 53% and program service revenue 45% of the total. Other salaries and wages came to $120k. At year end it held assets of $5.2m against liabilities of $2.8m, net assets of $2.4m. It reported 3 employees.

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.