Springvale Terrace Inc

Analysis

Springvale Terrace Inc is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in November 2003, 23 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 September 2023, Springvale Terrace Inc reported income of $2.1m and spending of $3.8m, spending 180% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $3.6m to $2.1m (-42%), an average of -13% a year. The sharpest change came in the year to September 2023, when income dropped by 35%. Over the whole period it spent 144% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Springvale Terrace Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 67th percentile within DC. Charities of a similar size with the same main cause include Legacy25 Inc ($2.1m), Eden Development Inc ($2.1m) and Phillips-Strickland House Corporation ($2.1m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 6.9% and program service revenue 88% of the total. At year end it held assets of $4.3m against liabilities of $10.2m, net assets of -$5.8m.

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.