Watertower South Inc

Analysis

Watertower South Inc is a registered charity in United States, based in Merrillville, IN. It received its IRS tax-exemption ruling in May 2012, 14 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, Watertower South Inc reported income of $88k and spending of $197k, spending 223% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income fell from $91k to $88k (-3.4%), an average of -1.2% a year. Over the whole period it spent 185% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Watertower South Inc sits at the 20th percentile: it is larger than about 20% of them. Against every charity in United States with reported income it ranks in the 34th percentile, and in the 31st percentile within IN. Charities of a similar size with the same main cause include New Beginnings Christian Discipleship ($88k), E D Farmer Foundation ($88k) and The Village at Pleasant Ridge ($88k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 43% and program service revenue 57% of the total. At year end it held assets of $1.7m against liabilities of $119k, net assets of $1.6m.

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.