Bethesda Spruce Street Development Corporation

Analysis

Bethesda Spruce Street Development Corporation is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in October 2000, 26 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, Bethesda Spruce Street Development Corporation reported income of $99k and spending of $276k, spending 278% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $107k to $99k (-7.4%), an average of -1.9% a year. Over the whole period it spent 230% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Bethesda Spruce Street Development Corporation sits at the 22nd percentile: it is larger than about 22% of them. Against every charity in United States with reported income it ranks in the 37th percentile, and in the 35th percentile within PA. Charities of a similar size with the same main cause include CPNJ Livingston Residence Inc ($99k), Sunvalley Apartments Inc ($99k) and Friendship Homes Inc ($99k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 65% and program service revenue 35% of the total. Other salaries and wages came to $141k. At year end it held assets of $126k against liabilities of $1.8m, net assets of -$1.7m. It reported 4 employees.

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.