Broadwater Place Inc

Analysis

Broadwater Place Inc is a registered charity in United States, based in St Petersburg, FL. It received its IRS tax-exemption ruling in November 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 (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, Broadwater Place Inc reported income of $74k and spending of $133k, spending 178% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $66k to $74k (+12%), an average of +3.0% a year. Over the whole period it spent 157% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Broadwater Place Inc sits at the 17th percentile: it is larger than about 17% of them. Against every charity in United States with reported income it ranks in the 29th percentile, and in the 33rd percentile within FL. Charities of a similar size with the same main cause include Ican Garden Apartments Inc ($74k), Hope Harbor Housing Corporation ($75k) and Wingo Elderly Housing Corporation ($74k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 53% and program service revenue 42% of the total. Other salaries and wages came to $11k. At year end it held assets of $1.6m against liabilities of $1.9m, net assets of -$353k.

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.