Westfield Towers Inc

Analysis

Westfield Towers Inc is a registered charity in United States, based in Sharon, PA. It received its IRS tax-exemption ruling in August 2009, 17 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, Westfield Towers Inc reported income of $225k and spending of $366k, spending 163% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $221k to $225k (+1.5%), an average of +0.5% a year. Over the whole period it spent 167% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Westfield Towers Inc sits at the 40th percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 54th percentile within PA. Charities of a similar size with the same main cause include Cabell-Huntington Unity Apartments Inc ($225k), Bicentennial Apartments ($225k) and RVM Bend II Housing Corporation ($225k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 99% of the total. Other salaries and wages came to $38k. At year end it held assets of $4.3m against liabilities of $5.8m, net assets of -$1.5m.

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.