Way Homes Inc

Analysis

Way Homes Inc is a registered charity in United States, based in Pasadena, MD. It received its IRS tax-exemption ruling in December 2010, 16 years ago. Its declared purposes cover mental health and crisis intervention, which this site groups under health and saving lives. 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 December 2023, Way Homes Inc reported income of $244k and spending of $260k, spending 106% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $285k to $244k (-14%), an average of -3.7% a year. The sharpest change came in the year to December 2021, when income rose by 16%. Over the whole period it spent 105% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Way Homes Inc sits at the 44th percentile: it is larger than about 44% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 58th percentile within MD. Charities of a similar size with the same main cause include Americas Choice Community of Red Oak ($244k), Traditional Chinese Medicine World Foundation Inc ($244k) and Moral Injury of Health Care Inc ($244k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 33% and program service revenue 67% of the total. Compensation of current officers, directors and key employees was $48k (18% of expenses). Other salaries and wages came to $16k. At year end it held assets of $420k against liabilities of $455k, net assets of -$36k. It reported 4 employees.

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.