Sandywoods Homes Inc

Analysis

Sandywoods Homes Inc is a registered charity in United States, based in Newport, RI. It received its IRS tax-exemption ruling in April 2010, 16 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 December 2023, Sandywoods Homes Inc reported income of $1.0m and spending of $1.4m, spending 134% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $729k to $1.0m (+42%), an average of +9.1% a year. The sharpest change came in the year to December 2023, when income rose by 23%. 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, Sandywoods Homes Inc sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 76th percentile within RI. Charities of a similar size with the same main cause include Telacu Senior Housing Inc ($1.0m), TG 110 Inc ($1.0m) and Portage County Land Reutilization Corporation ($1.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 9.6% and program service revenue 85% of the total. At year end it held assets of $9.2m against liabilities of $6.3m, net assets of $2.9m.

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.