Stepping Stone Housing Inc

Analysis

Stepping Stone Housing Inc is a registered charity in United States, based in Damariscotta, ME. It received its IRS tax-exemption ruling in August 2014, 12 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 December 2023, Stepping Stone Housing Inc reported income of $349k and spending of $183k, leaving 48% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $165k to $349k (+112%), an average of +21% a year. The sharpest change came in the year to December 2021, when income rose by 62%. Over the whole period it spent 52% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Stepping Stone Housing Inc sits at the 49th percentile: it is larger than about 49% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 60th percentile within ME. Charities of a similar size with the same main cause include New Hope Community Development Non-Profit Housing Corporation ($349k), Presbyterian Homes of Wisconsin Inc ($349k) and El Mirage Senior Village ($349k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 42% and program service revenue 21% of the total. Other salaries and wages came to $2,510. At year end it held assets of $1.6m against liabilities of $451k, net assets of $1.1m. It reported 3 employees.