Leeway-Welton Housing Corp

Analysis

Leeway-Welton Housing Corp is a registered charity in United States, based in New Haven, CT. It received its IRS tax-exemption ruling in June 2009, 17 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 September 2023, Leeway-Welton Housing Corp reported income of $175k and spending of $285k, spending 163% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $194k to $175k (-9.8%), an average of -2.5% a year. Over the whole period it spent 159% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Leeway-Welton Housing Corp sits at the 34th percentile: it is larger than about 34% of them. Against every charity in United States with reported income it ranks in the 51st percentile, and in the 48th percentile within CT. Charities of a similar size with the same main cause include Monarch Disabled Housing Inc ($175k), North Beacon Hill Housing Initiative Association ($175k) and Gibb Bainbridge Village Inc ($175k).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 94% of the total. Other salaries and wages came to $28k. At year end it held assets of $2.4m against liabilities of $3.5m, 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.