Westerly-Area-Rest-Meals-Warm-Inc

Analysis

Westerly-Area-Rest-Meals-Warm-Inc is a registered charity in United States, based in Westerly, RI. It received its IRS tax-exemption ruling in May 1988, 38 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, Westerly-Area-Rest-Meals-Warm-Inc reported income of $2.5m and spending of $2.4m, spending 93% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.1m to $2.5m (+122%), an average of +22% a year. The sharpest change came in the year to June 2023, when income rose by 61%. Over the whole period it spent 95% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Westerly-Area-Rest-Meals-Warm-Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 84th percentile within RI. Charities of a similar size with the same main cause include Community One Inc ($2.5m), Macomb County Rotating Emergency Shelter Team ($2.5m) and Chatham Park South Cooperative ($2.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 88% and program service revenue 2.5% of the total. Compensation of current officers, directors and key employees was $135k (5.7% of expenses). Other salaries and wages came to $820k. At year end it held assets of $2.9m against liabilities of $63k, net assets of $2.8m. It reported 34 employees.