Washington Square Services Corporation

Analysis

Washington Square Services Corporation is a registered charity in United States, based in Newport, RI. It received its IRS tax-exemption ruling in November 1991, 35 years ago. 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, Washington Square Services Corporation reported income of $776k and spending of $839k, spending 108% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $658k to $776k (+18%), an average of +4.2% a year. The sharpest change came in the year to June 2021, when income rose by 16%. Over the whole period it spent 96% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Washington Square Services Corporation sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 72nd percentile within RI. Charities of a similar size with the same main cause include Fox Chase Network Inc ($776k), Kids Kountry Learning Center Limited ($776k) and Peninsula Foundation ($776k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 45% and program service revenue 55% of the total. Other salaries and wages came to $473k. At year end it held assets of $375k against liabilities of $28k, net assets of $348k. It reported 24 employees.