Havenside Corporation

Analysis

Havenside Corporation is a registered charity in United States, based in Vineyard Haven, MA. It received its IRS tax-exemption ruling in October 1991, 35 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Havenside Corporation reported income of $430k and spending of $470k, spending 109% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $406k to $430k (+6.1%), an average of +1.5% a year. The sharpest change came in the year to December 2023, when income rose by 37%. Over the whole period it spent 97% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Havenside Corporation sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 69th percentile within MA. Charities of a similar size with the same main cause include Franklin County Housing Advisory Corporation Inc ($430k), TG 304 Inc ($430k) and Stevenson House Foundation ($430k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.2% and program service revenue 88% of the total. Other salaries and wages came to $84k. At year end it held assets of $3.1m against liabilities of $229k, net assets of $2.9m. It reported 1 employees.