National Church Residences of Waterford Development Fund Company

Analysis

National Church Residences of Waterford Development Fund Company is a registered charity in United States, based in Columbus, OH. It received its IRS tax-exemption ruling in May 1982, 44 years ago. 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 August 2023, National Church Residences of Waterford Development Fund Company reported income of $463k and spending of $498k, spending 108% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income grew from $401k to $463k (+15%), an average of +3.6% a year. Over the whole period it spent 115% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, National Church Residences of Waterford Development Fund Company sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 69th percentile within OH. Charities of a similar size with the same main cause include Laughlin Community Center Inc ($463k), Lackawanna Blind Association ($463k) and St Clair Superior Development Corporation ($463k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 67% and program service revenue 33% of the total. At year end it held assets of $1.4m against liabilities of $3.2m, net assets of -$1.9m.

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.