Seventy-Five State Street

Analysis

Seventy-Five State Street is a registered charity in United States, based in Portland, ME. It received its IRS tax-exemption ruling in July 1942, 84 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 December 2023, Seventy-Five State Street reported income of $9.2m and spending of $8.7m, spending 94% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $6.6m to $9.2m (+39%), an average of +8.7% a year. The sharpest change came in the year to December 2022, when income rose by 27%. Over the whole period it spent 95% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Seventy-Five State Street sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 94th percentile within ME. Charities of a similar size with the same main cause include Porchlight Inc ($9.2m), Rubys Place ($9.2m) and Lester and Rosalie Anixter Center ($9.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.8% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $139k (1.6% of expenses). Other salaries and wages came to $4.0m. At year end it held assets of $19.1m against liabilities of $10.2m, net assets of $8.9m. It reported 190 employees.