Residences at Sherburne Commons Inc

Analysis

Residences at Sherburne Commons Inc is a registered charity in United States, based in Nantucket, MA. It received its IRS tax-exemption ruling in December 2015, 11 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Residences at Sherburne Commons Inc reported income of $2.9m and spending of $3.2m, spending 111% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $3.9m to $2.9m (-25%), an average of -6.9% a year. The sharpest change came in the year to December 2022, when income dropped by 21%. Over the whole period it spent 91% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Residences at Sherburne Commons Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 88th percentile within MA. Charities of a similar size with the same main cause include Build Wyco Inc ($2.9m), Oaklake Community Housing Development Corporation ($2.9m) and Richland County Land Reutilization Corporation ($2.9m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $200k (6.2% of expenses). Other salaries and wages came to $871k. At year end it held assets of $6.1m against liabilities of $3.3m, net assets of $2.8m. It reported 31 employees.