Fairhaven Corporation

Analysis

Fairhaven Corporation is a registered charity in United States, based in Whitewater, WI. It received its IRS tax-exemption ruling in August 1964, 62 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 December 2023, Fairhaven Corporation reported income of $10.4m and spending of $9.0m, spending 86% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $12.6m to $10.4m (-18%), an average of -4.8% a year. The sharpest change came in the year to December 2023, when income rose by 20%. Over the whole period it spent 98% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Fairhaven Corporation sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within WI. Charities of a similar size with the same main cause include Diversfied Family Services Inc ($10.4m), Alice Peck Day Lifecare Center Inc ($10.4m) and Nova Center of the Ozarks Inc ($10.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 21% and program service revenue 67% of the total. Compensation of current officers, directors and key employees was $138k (1.5% of expenses). Other salaries and wages came to $3.9m. At year end it held assets of $33.8m against liabilities of $19.4m, net assets of $14.4m. It reported 173 employees.