Residences at Wood Street

Analysis

Residences at Wood Street is a registered charity in United States, based in Pittsburgh, PA. It received its IRS tax-exemption ruling in October 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 June 2023, Residences at Wood Street reported income of $3.5m and spending of $2.8m, leaving 21% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income fell from $4.6m to $3.5m (-23%), an average of -6.4% a year. The sharpest change came in the year to June 2023, when income rose by 194%. Over the whole period it spent 82% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Residences at Wood Street sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 89th percentile within PA. Charities of a similar size with the same main cause include State Street Housing Preservation Corporation ($3.5m), Renewal Housing Inc ($3.6m) and Wesley Woods Senior Living Inc ($3.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 8.7% and program service revenue 91% of the total. Other salaries and wages came to $416k. At year end it held assets of $17.4m against liabilities of $5.0m, net assets of $12.4m. It reported 18 employees.