Blue Water Development Housing Inc

Analysis

Blue Water Development Housing Inc is a registered charity in United States, based in St Clair, MI. It received its IRS tax-exemption ruling in March 1982, 44 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 September 2023, Blue Water Development Housing Inc reported income of $14.6m and spending of $14.8m, spending 101% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $9.0m to $14.6m (+62%), an average of +13% a year. The sharpest change came in the year to September 2020, when income rose by 24%. Over the whole period it spent 97% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Blue Water Development Housing Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within MI. Charities of a similar size with the same main cause include Goshen Valley Foundation Inc ($14.6m), Mid-Island Y Jewish Community Center Inc ($14.6m) and Ferd and Gladys Alpert Jewish Family & Childrens SVC of PLM BCH ($14.6m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 2.8% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $223k (1.5% of expenses). Other salaries and wages came to $10.2m. At year end it held assets of $7.4m against liabilities of $2.0m, net assets of $5.4m. It reported 314 employees.