Way Finders Inc

Analysis

Way Finders Inc is a registered charity in United States, based in Springfield, MA. It received its IRS tax-exemption ruling in April 1994, 32 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 June 2023, Way Finders Inc reported income of $113.1m and spending of $112.8m, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $81.4m to $113.1m (+39%), an average of +8.6% a year. The sharpest change came in the year to June 2022, when income rose by 56%. Over the whole period it spent 99% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Way Finders Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within MA. Charities of a similar size with the same main cause include National Church Residences ($109.4m), Unlimited Development Inc ($118.9m) and Low Income Investment Fund ($108.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 97% and program service revenue 2.5% of the total. Compensation of current officers, directors and key employees was $1.1m (1.0% of expenses). Other salaries and wages came to $13.8m. At year end it held assets of $69.8m against liabilities of $52.2m, net assets of $17.6m. It reported 441 employees.