Pilgrim Towers Inc

Analysis

Pilgrim Towers Inc is a registered charity in United States, based in Norwalk, CT. It received its IRS tax-exemption ruling in November 1990, 36 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 December 2023, Pilgrim Towers Inc reported income of $869k and spending of $1.0m, spending 117% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $767k to $869k (+13%), an average of +3.2% a year. Over the whole period it spent 113% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Pilgrim Towers Inc sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 76th percentile within CT. Charities of a similar size with the same main cause include Cedar Gardens Apartments ($868k), LA Cruz Community ($869k) and Sunset Charities Housing Corporation ($868k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 6.5% and program service revenue 88% of the total. Other salaries and wages came to $139k. At year end it held assets of $3.1m against liabilities of $3.0m, net assets of $94k.

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.