Fred Woods Home Inc

Analysis

Fred Woods Home Inc is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in January 1995, 31 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, Fred Woods Home Inc reported income of $207k and spending of $275k, spending 133% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income grew from $167k to $207k (+24%), an average of +4.5% a year. The sharpest change came in the year to June 2021, when income rose by 22%. Over the whole period it spent 144% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Fred Woods Home Inc sits at the 38th percentile: it is larger than about 38% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 55th percentile within IL. Charities of a similar size with the same main cause include Silver Lake Senior Housing Corporation ($207k), Highview Unity Apartments Inc ($207k) and Mercy Manor ($207k).

On its Form 990 for the period ending June 2024, revenue came from program service revenue 96% of the total. Other salaries and wages came to $32k. At year end it held assets of $2.6m against liabilities of $690k, 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.