Collins Way Inc

Analysis

Collins Way Inc is a registered charity in United States, based in Frederick, MD. It received its IRS tax-exemption ruling in May 1994, 32 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, Collins Way Inc reported income of $78k and spending of $119k, spending 152% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $78k to $78k (+0.8%), an average of +0.2% a year. Over the whole period it spent 138% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Collins Way Inc sits at the 17th percentile: it is larger than about 17% of them. Against every charity in United States with reported income it ranks in the 30th percentile, and in the 32nd percentile within MD. Charities of a similar size with the same main cause include Independence Place Inc ($78k), Salvation Manor Inc ($78k) and Progressive Eldercare Services Cleveland Inc ($78k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 99% of the total. At year end it held assets of $473k against liabilities of $896k, net assets of -$423k.

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.