Whitmarsh Corporation

Analysis

Whitmarsh Corporation is a registered charity in United States, based in Providence, RI. It received its IRS tax-exemption ruling in August 1976, 50 years ago. 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 June 2023, Whitmarsh Corporation reported income of $2.5m and spending of $2.5m, spending 99% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.6m to $2.5m (+54%), an average of +12% a year. The sharpest change came in the year to June 2022, when income rose by 27%. Over the whole period it spent 121% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Whitmarsh Corporation sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 84th percentile within RI. Charities of a similar size with the same main cause include Polus Center for Social and Economic Development ($2.5m), Surf Development Company Inc ($2.5m) and Fellowship of Companies for Christ International Inc ($2.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 15% and program service revenue 84% of the total. Other salaries and wages came to $1.6m. At year end it held assets of $1.5m against liabilities of $24k, net assets of $1.5m. It reported 38 employees.