Westover Cove Inc

Analysis

Westover Cove Inc is a registered charity in United States, based in San Antonio, TX. It received its IRS tax-exemption ruling in December 2003, 23 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending March 2023, Westover Cove Inc reported income of $188k and spending of $238k, spending 127% of what it took in. Across the 5 years on record, from March 2019 to March 2023, income grew from $177k to $188k (+6.1%), an average of +1.5% a year. Over the whole period it spent 122% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Westover Cove Inc sits at the 36th percentile: it is larger than about 36% of them. Against every charity in United States with reported income it ranks in the 52nd percentile, and in the 56th percentile within TX. Charities of a similar size with the same main cause include Delphi Housing Inc ($188k), Andover Community Trust Inc ($188k) and Windsor Place Housing Inc ($187k).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 84% and program service revenue 16% of the total. Other salaries and wages came to $55k. At year end it held assets of $925k against liabilities of $1.5m, net assets of -$526k.

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.