Dayspring Homes Inc

Analysis

Dayspring Homes Inc is a registered charity in United States, based in Shillington, PA. It received its IRS tax-exemption ruling in March 1946, 80 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 June 2023, Dayspring Homes Inc reported income of $4.8m and spending of $3.6m, leaving 25% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.4m to $4.8m (+43%), an average of +9.4% a year. The sharpest change came in the year to June 2023, when income rose by 36%. Over the whole period it spent 81% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Dayspring Homes Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 90th percentile within PA. Charities of a similar size with the same main cause include Mutual Housing Association of Greater Hartford Inc ($4.8m), Association of University Professors of Ophthalmology Inc ($4.8m) and Veterans Consortium Pro Bono Program ($4.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 23% and program service revenue 77% of the total. Compensation of current officers, directors and key employees was $108k (3.0% of expenses). Other salaries and wages came to $2.1m. At year end it held assets of $5.7m against liabilities of $636k, net assets of $5.1m. It reported 76 employees.