Peconic Landing at Southold Inc

Analysis

Peconic Landing at Southold Inc is a registered charity in United States, based in Greenport, NY. It received its IRS tax-exemption ruling in January 1999, 27 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 December 2023, Peconic Landing at Southold Inc reported income of $930k and spending of $1.0m, spending 109% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $917k to $930k (+1.4%), an average of +0.3% a year. The sharpest change came in the year to December 2021, when income rose by 38%. Over the whole period it spent 105% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Peconic Landing at Southold Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 74th percentile within NY. Charities of a similar size with the same main cause include Dorsey B Heer TR Ua 15 of Will ($929k), Cortland Repertory Theatre Inc ($930k) and Catholic Housing of Birmingham Inc ($929k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $831k. At year end it held assets of $153k against liabilities of $779k, net assets of -$627k. It reported 41 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.