18 W Read St Inc

Analysis

18 W Read St Inc is a registered charity in United States, based in Baltimore, MD. It received its IRS tax-exemption ruling in December 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, 18 W Read St Inc reported income of $79k and spending of $146k, spending 184% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $118k to $79k (-33%), an average of -9.5% a year. The sharpest change came in the year to June 2023, when income dropped by 27%. Over the whole period it spent 152% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, 18 W Read St Inc sits at the 18th percentile: it is larger than about 18% of them. Against every charity in United States with reported income it ranks in the 31st percentile, and in the 32nd percentile within MD. Charities of a similar size with the same main cause include Shalom Housing Development Inc ($79k), Washington Street Residents Association ($79k) and Joyce a and James R Reed Charitable Trust Inc ($79k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 107% of the total. Other salaries and wages came to $20k. At year end it held assets of $1.4m against liabilities of $131k, net assets of $1.2m.

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.