Sakonnet Preservation Assoc Inc

Analysis

Sakonnet Preservation Assoc Inc is a registered charity in United States, based in L Compton, RI. It received its IRS tax-exemption ruling in October 1972, 54 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 December 2023, Sakonnet Preservation Assoc Inc reported income of $2.6m and spending of $2.5m, spending 95% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.0m to $2.6m (+28%), an average of +6.4% a year. The sharpest change came in the year to December 2021, when income rose by 720%. Over the whole period it spent 62% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Sakonnet Preservation Assoc Inc sits at the 87th percentile: it is larger than about 87% 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 Habitat for Humanity International Inc ($2.6m), Boy Scouts of America ($2.6m) and Common Pantry ($2.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% and program service revenue 0.0% of the total. Compensation of current officers, directors and key employees was $65k (2.6% of expenses). Other salaries and wages came to $42k. At year end it held assets of $8.4m against liabilities of $59k, net assets of $8.3m. It reported 5 employees.