Saugatucket Springs Inc

Analysis

Saugatucket Springs Inc is a registered charity in United States, based in Providence, RI. It received its IRS tax-exemption ruling in November 2003, 23 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 2024, Saugatucket Springs Inc reported income of $567k and spending of $733k, spending 129% of what it took in. Across the 4 years on record, from June 2020 to June 2024, income grew from $466k to $567k (+22%), an average of +6.8% a year. Over the whole period it spent 136% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Saugatucket Springs Inc sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 68th percentile within RI. Charities of a similar size with the same main cause include South Jefferson Housing Development Fund Co Inc ($567k), Village East Senior Housing Association ($567k) and Border Kindness ($567k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 49% and program service revenue 51% of the total. Other salaries and wages came to $146k. At year end it held assets of $4.5m against liabilities of $7.2m, net assets of -$2.7m.

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.