Spring Place Inc

Analysis

Spring Place Inc is a registered charity in United States, based in Frederick, MD. It received its IRS tax-exemption ruling in March 1993, 33 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 June 2023, Spring Place Inc reported income of $73k and spending of $103k, spending 142% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income fell from $85k to $73k (-14%), an average of -5.1% a year. Over the whole period it spent 121% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Spring Place Inc sits at the 16th percentile: it is larger than about 16% of them. Against every charity in United States with reported income it ranks in the 28th percentile, and in the 30th percentile within MD. Charities of a similar size with the same main cause include Kirkland Homes Inc ($73k), Housing Helpers Inc ($73k) and Community Apartments Corporation of Metrolina 3 ($73k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 77% and program service revenue 23% of the total. At year end it held assets of $637k against liabilities of $1.0m, net assets of -$398k.

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.