Greater Springfield Residences Inc

Analysis

Greater Springfield Residences Inc is a registered charity in United States, based in Randolph, MA. It received its IRS tax-exemption ruling in April 1997, 29 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, Greater Springfield Residences Inc reported income of $76k and spending of $95k, spending 124% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $56k to $76k (+36%), an average of +8.0% a year. The sharpest change came in the year to June 2020, when income rose by 31%. Over the whole period it spent 142% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Greater Springfield Residences Inc sits at the 17th percentile: it is larger than about 17% of them. Against every charity in United States with reported income it ranks in the 30th percentile, and in the 38th percentile within MA. Charities of a similar size with the same main cause include Aztex Homes for Ederly Inc ($76k), River Town Heights Inc ($76k) and Homeward Bound Inc ($76k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $11k. At year end it held assets of $448k against liabilities of $581k, net assets of -$133k.

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.