Peconic Landing at Southold Inc

Analysis

Peconic Landing at Southold Inc is a registered charity in United States, based in Greenport, NY. It received its IRS tax-exemption ruling in January 1999, 27 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 December 2022, Peconic Landing at Southold Inc reported income of $33.4m and spending of $34.9m, spending 105% of its income. Across the 4 years on record, from December 2019 to December 2022, income grew from $31.0m to $33.4m (+7.5%), an average of +2.5% a year. The sharpest change came in the year to December 2021, when income rose by 15%. Over the whole period it spent 101% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Peconic Landing at Southold Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 97th percentile within NY. Charities of a similar size with the same main cause include Emergency Food Network of Tacoma and Pierce County ($33.4m), Life Concepts Inc ($33.4m) and North East Educational and Developmental Supports Center Inc ($33.3m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 3.9% and program service revenue 84% of the total. Compensation of current officers, directors and key employees was $1.3m (3.7% of expenses). Other salaries and wages came to $12.8m. At year end it held assets of $143.9m against liabilities of $182.4m, net assets of -$38.5m. It reported 360 employees.