Putnam Baptist Homes Inc

Analysis

Putnam Baptist Homes Inc is a registered charity in United States, based in Putnam, CT. It received its IRS tax-exemption ruling in January 1979, 47 years ago. 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, Putnam Baptist Homes Inc reported income of $968k and spending of $1.0m, spending 108% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $822k to $968k (+18%), an average of +4.2% a year. The sharpest change came in the year to December 2023, when income rose by 17%. Over the whole period it spent 112% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Putnam Baptist Homes Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 77th percentile within CT. Charities of a similar size with the same main cause include Hook Arts Media Inc ($968k), Habitat for Humanity International Inc ($968k) and Kentucky Christian School Inc ($968k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 90% of the total. Compensation of current officers, directors and key employees was $95k (9.1% of expenses). At year end it held assets of $2.9m against liabilities of $4.0m, net assets of -$1.1m. 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.