Springhouse Inc

Analysis

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

In the financial year ending December 2023, Springhouse Inc reported income of $8.8m and spending of $8.6m, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $8.8m to $8.8m (+0.5%), an average of +0.1% a year. The sharpest change came in the year to December 2021, when income rose by 18%. Over the whole period it spent 84% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Springhouse Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 93rd percentile within MA. Charities of a similar size with the same main cause include Depaul Properties Inc ($8.8m), Oak Grove Christian Retirement Village Inc ($8.8m) and Neighborhood Nonprofit Housing Corporation ($8.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.0% and program service revenue 94% of the total. Other salaries and wages came to $3.7m. At year end it held assets of $37.8m against liabilities of $21.7m, net assets of $16.1m. It reported 81 employees.