Wallace Place NFP

Analysis

Wallace Place NFP is a registered charity in United States, based in Loves Park, IL. It received its IRS tax-exemption ruling in December 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, Wallace Place NFP reported income of $58k and spending of $100k, spending 172% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $42k to $58k (+39%), an average of +8.6% a year. The sharpest change came in the year to June 2021, when income rose by 106%. 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, Wallace Place NFP sits at the 13th percentile: it is larger than about 13% of them. Against every charity in United States with reported income it ranks in the 23rd percentile, and in the 24th percentile within IL. Charities of a similar size with the same main cause include FSWP GL III Inc ($58k), Diamond Hill Community Service Corporation ($58k) and Silverado Creek Housing Inc ($57k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 52% and program service revenue 48% of the total. At year end it held assets of $1.5m against liabilities of $434k, net assets of $1.1m.

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.