Highland Springs Inc

Analysis

Highland Springs Inc is a registered charity in United States, based in Catonsville, MD. It received its IRS tax-exemption ruling in March 2008, 18 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, Highland Springs Inc reported income of $66.3m and spending of $73.1m, spending 110% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $55.5m to $66.3m (+19%), an average of +4.6% a year. Over the whole period it spent 110% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Highland Springs Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within MD. Charities of a similar size with the same main cause include Self Help Enterprises ($66.0m), Doe Fund Inc ($66.4m) and Trillium Family Services Inc ($64.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.9% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $441k (0.6% of expenses). Other salaries and wages came to $21.2m. At year end it held assets of $314.0m against liabilities of $359.4m, net assets of -$45.4m. It reported 979 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.