Narragansett Affordable Housing Inc

Analysis

Narragansett Affordable Housing Inc is a registered charity in United States, based in Narragansett, RI. It received its IRS tax-exemption ruling in June 1998, 28 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 March 2023, Narragansett Affordable Housing Inc reported income of $124k and spending of $135k, spending 109% of what it took in. Across the 5 years on record, from March 2019 to March 2023, income grew from $99k to $124k (+25%), an average of +5.6% a year. The sharpest change came in the year to March 2020, when income rose by 23%. Over the whole period it spent 100% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Narragansett Affordable Housing Inc sits at the 27th percentile: it is larger than about 27% of them. Against every charity in United States with reported income it ranks in the 42nd percentile, and in the 38th percentile within RI. Charities of a similar size with the same main cause include Open Door House ($124k), Independent Living Horizons Eleven Inc ($124k) and Breal Inc ($124k).

On its Form 990 for the period ending March 2023, revenue came from program service revenue 29% of the total. Compensation of current officers, directors and key employees was $60k (44% of expenses). At year end it held assets of $506k against liabilities of $553k, net assets of -$47k. It reported 2 employees.