Waterside Homes Inc

Analysis

Waterside Homes Inc is a registered charity in United States, based in Rockville, MD. It received its IRS tax-exemption ruling in March 2007, 19 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 June 2023, Waterside Homes Inc reported income of $65k and spending of $107k, spending 166% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $63k to $65k (+1.9%), an average of +0.5% a year. Over the whole period it spent 162% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Waterside Homes Inc sits at the 14th percentile: it is larger than about 14% of them. Against every charity in United States with reported income it ranks in the 25th percentile, and in the 27th percentile within MD. Charities of a similar size with the same main cause include WHFH III Inc ($65k), Fuller Center for Housing of Atchis ($65k) and JDC Corporation ($65k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 56% and program service revenue 44% of the total. At year end it held assets of $1.6m against liabilities of $2.0m, net assets of -$372k.

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.