Worcester Community Housing Resources Inc

Analysis

Worcester Community Housing Resources Inc is a registered charity in United States, based in Worcester, MA. It received its IRS tax-exemption ruling in September 1986, 40 years ago. 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 December 2023, Worcester Community Housing Resources Inc reported income of $4.2m and spending of $2.9m, leaving 32% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.9m to $4.2m (+128%), an average of +23% a year. The sharpest change came in the year to December 2023, when income rose by 127%. Over the whole period it spent 94% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Worcester Community Housing Resources Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 90th percentile within MA. Charities of a similar size with the same main cause include Pharmaceutical Research and Manufacturers of America FND Inc ($4.2m), Cortland College Foundation Inc ($4.2m) and Independent Electrical Contractors Training Fund Inc ($4.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 16% and program service revenue 84% of the total. Compensation of current officers, directors and key employees was $139k (4.8% of expenses). Other salaries and wages came to $594k. At year end it held assets of $25.9m against liabilities of $4.3m, net assets of $21.6m. It reported 16 employees.