Thomas Wilbur Homestead Inc

Analysis

Thomas Wilbur Homestead Inc is a registered charity in United States, based in Warwick, RI. It received its IRS tax-exemption ruling in June 2008, 18 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 June 2021, Thomas Wilbur Homestead Inc reported income of $55k and spending of $85k, spending 154% of what it took in. Across the 3 years on record, from June 2019 to June 2021, income grew from $54k to $55k (+1.4%), an average of +0.7% a year. Over the whole period it spent 141% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Thomas Wilbur Homestead Inc sits at the 12th percentile: it is larger than about 12% of them. Against every charity in United States with reported income it ranks in the 22nd percentile, and in the 19th percentile within RI. Charities of a similar size with the same main cause include Home on Whidbey a Community Land Trust ($55k), Bay View Citizens for Social Justice Inc ($55k) and Ngip ($55k).

On its Form 990 for the period ending June 2021, revenue came from contributions and grants 67% and program service revenue 33% of the total. At year end it held assets of $1.1m against liabilities of $46k, net assets of $1.1m.

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.