Seabrook Village Inc

Analysis

Seabrook Village Inc is a registered charity in United States, based in Catonsville, MD. It received its IRS tax-exemption ruling in September 1999, 27 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Seabrook Village Inc reported income of $71.4m and spending of $82.0m, spending 115% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $67.3m to $71.4m (+6.1%), an average of +1.5% a year. The sharpest change came in the year to December 2021, when income rose by 23%. Over the whole period it spent 115% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Seabrook Village Inc sits at the 99th 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 Partners in Community Supports Inc ($71.4m), Catholic Charities of Louisville Inc ($71.5m) and Nysarc Inc ($71.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 3.1% and program service revenue 96% of the total. Compensation of current officers, directors and key employees was $775k (0.9% of expenses). Other salaries and wages came to $25.7m. At year end it held assets of $312.0m against liabilities of $397.7m, net assets of -$85.7m. It reported 879 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.