Neighbors of Watertown Inc

Analysis

Neighbors of Watertown Inc is a registered charity in United States, based in Watertown, NY. It received its IRS tax-exemption ruling in March 1972, 54 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, Neighbors of Watertown Inc reported income of $5.9m and spending of $6.4m, spending 109% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $10.2m to $5.9m (-43%), an average of -13% a year. The sharpest change came in the year to December 2022, when income dropped by 41%. Over the whole period it spent 96% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Neighbors of Watertown 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 93rd percentile, and in the 90th percentile within NY. Charities of a similar size with the same main cause include Village Housing Development Corp ($5.9m), Helping Hand House ($5.9m) and McIntosh Senior Living ($5.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 32% and program service revenue 63% of the total. Compensation of current officers, directors and key employees was $196k (3.1% of expenses). Other salaries and wages came to $1.8m. At year end it held assets of $28.7m against liabilities of $8.2m, net assets of $20.4m. It reported 67 employees.