Statewide Bay Landing Inc

Analysis

Statewide Bay Landing Inc is a registered charity in United States, based in Newport, RI. It received its IRS tax-exemption ruling in August 1994, 32 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 December 2023, Statewide Bay Landing Inc reported income of $193k and spending of $194k, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $199k to $193k (-2.9%), an average of -0.7% a year. Over the whole period it spent 105% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Statewide Bay Landing Inc sits at the 37th percentile: it is larger than about 37% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 49th percentile within RI. Charities of a similar size with the same main cause include HFL Van Nuys Apartments ($193k), Ingraham Housing Corporation Inc ($193k) and Sullivan Street Inc ($193k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 97% of the total. At year end it held assets of $805k against liabilities of $41k, net assets of $765k.

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.