Forty West Street Corporation

Analysis

Forty West Street Corporation is a registered charity in United States, based in Southbridge, MA. It received its IRS tax-exemption ruling in October 2007, 19 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 June 2023, Forty West Street Corporation reported income of $63k and spending of $124k, spending 197% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $63k to $63k (-0.0%), an average of +-0.0% a year. Over the whole period it spent 190% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Forty West Street Corporation sits at the 14th percentile: it is larger than about 14% of them. Against every charity in United States with reported income it ranks in the 25th percentile, and in the 33rd percentile within MA. Charities of a similar size with the same main cause include No One Hungry Inc ($63k), Lenawee Housing Development Coalition ($63k) and Bay Bridge Corporation ($63k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 48% and program service revenue 52% of the total. Other salaries and wages came to $4,844. At year end it held assets of $948k against liabilities of $1.7m, net assets of -$726k.

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.