Well of Saginaw

Analysis

Well of Saginaw is a registered charity in United States, based in Saginaw, MI. It received its IRS tax-exemption ruling in March 2022, 4 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 2024, Well of Saginaw reported income of $121k and spending of $177k, spending 147% of what it took in. Across the 2 years on record, from June 2023 to June 2024, income fell from $264k to $121k (-54%), an average of -54% a year. The sharpest change came in the year to June 2024, when income dropped by 54%. Over the whole period it spent 74% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Well of Saginaw sits at the 26th percentile: it is larger than about 26% of them. Against every charity in United States with reported income it ranks in the 42nd percentile, and in the 41st percentile within MI. Charities of a similar size with the same main cause include Florence Emergency Cold Weather Shelter Committee ($121k), Cane Pointe Apartments Inc ($121k) and League of Human Dignity Central Nebraska Housing Corporation ($121k).

On its Form 990-EZ for the period ending June 2024, revenue came from contributions and grants 100% of the total. At year end it held assets of $102k against liabilities of $0, net assets of $102k.