Spurwink Realty Development Corporation

Analysis

Spurwink Realty Development Corporation is a registered charity in United States, based in Cranston, RI. It received its IRS tax-exemption ruling in September 1995, 31 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 December 2023, Spurwink Realty Development Corporation reported income of $159k and spending of $191k, spending 120% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $163k to $159k (-2.9%), an average of -0.7% a year. Over the whole period it spent 113% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Spurwink Realty Development Corporation sits at the 32nd percentile: it is larger than about 32% of them. Against every charity in United States with reported income it ranks in the 48th percentile, and in the 45th percentile within RI. Charities of a similar size with the same main cause include Habitat for Humanity International Inc ($158k), Burbank Accessible Apartments Corporation ($159k) and Kilgore Complex Inc ($158k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. At year end it held assets of $1.2m against liabilities of $1.4m, net assets of -$222k.

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.