Edgecomb Woods

Analysis

Edgecomb Woods is a registered charity in United States, based in Portland, ME. It received its IRS tax-exemption ruling in January 2001, 25 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, Edgecomb Woods reported income of $241k and spending of $297k, spending 123% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $190k to $241k (+27%), an average of +6.1% a year. The sharpest change came in the year to December 2023, when income rose by 19%. Over the whole period it spent 120% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Edgecomb Woods sits at the 41st percentile: it is larger than about 41% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 51st percentile within ME. Charities of a similar size with the same main cause include Chenango Housing Development Fund Corporation ($241k), Midwest Association of Housing Cooperatives ($241k) and Crossroads Village Mutual Housing Association ($241k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 43% and program service revenue 57% of the total. At year end it held assets of $1.6m against liabilities of $2.2m, net assets of -$593k.

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.