Davenport Residence Inc

Analysis

Davenport Residence Inc is a registered charity in United States, based in North Haven, CT. It received its IRS tax-exemption ruling in August 1967, 59 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending May 2024, Davenport Residence Inc reported income of $3.9m and spending of $4.3m, spending 110% of what it took in. Across the 5 years on record, from May 2020 to May 2024, income grew from $3.4m to $3.9m (+17%), an average of +4.0% a year. Over the whole period it spent 102% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Davenport Residence Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 89th percentile within CT. Charities of a similar size with the same main cause include Minnesota State Council on Economic Education ($3.9m), S P G Housing Inc ($3.9m) and The William Paterson University of New Jersey Foundation Inc ($3.9m).

On its Form 990 for the period ending May 2024, revenue came from contributions and grants 42% and program service revenue 54% of the total. Other salaries and wages came to $570k. At year end it held assets of $15.0m against liabilities of $13.2m, net assets of $1.8m.

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.