Woonasquatucket Valley Community Build Inc

Analysis

Woonasquatucket Valley Community Build Inc is a registered charity in United States, based in Providence, RI. It received its IRS tax-exemption ruling in October 2002, 24 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 December 2023, Woonasquatucket Valley Community Build Inc reported income of $1.3m and spending of $1.5m, spending 120% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.9m to $1.3m (-33%), an average of -9.4% a year. The sharpest change came in the year to December 2020, when income dropped by 21%. Over the whole period it spent 91% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Woonasquatucket Valley Community Build Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 78th percentile within RI. Charities of a similar size with the same main cause include Lake County Partnership for Economic Development Inc ($1.3m), Berkshire County Regional Employment Board ($1.3m) and Plumbing & Heating Jatc of Rochester Ua ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 68% and program service revenue 27% of the total. Compensation of current officers, directors and key employees was $98k (6.4% of expenses). Other salaries and wages came to $627k. At year end it held assets of $4.3m against liabilities of $750k, net assets of $3.5m. It reported 24 employees.

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.