Woodfords Family Service

Analysis

Woodfords Family Service is a registered charity in United States, based in Westbrook, ME. It received its IRS tax-exemption ruling in November 1969, 57 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Woodfords Family Service reported income of $43.3m and spending of $36.7m, spending 85% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $28.8m to $43.3m (+50%), an average of +11% a year. The sharpest change came in the year to June 2021, when income rose by 28%. Over the whole period it spent 96% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Woodfords Family Service sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within ME. Charities of a similar size with the same main cause include Oglala Lakota College ($43.3m), Cleveland Institute of Art ($43.4m) and Erskine College ($43.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.8% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $408k (1.1% of expenses). Other salaries and wages came to $18.4m. At year end it held assets of $20.5m against liabilities of $8.8m, net assets of $11.7m. It reported 650 employees.