Supportworks Housing

Analysis

Supportworks Housing is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in July 1988, 38 years ago. 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 December 2023, Supportworks Housing reported income of $14.1m and spending of $11.5m, spending 81% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $9.6m to $14.1m (+47%), an average of +10% a year. The sharpest change came in the year to December 2020, when income rose by 44%. Over the whole period it spent 88% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Supportworks Housing sits at the 97th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within VA. Charities of a similar size with the same main cause include Life Teen Inc ($14.1m), San Antonio Area Foundation Group Return ($14.1m) and Community Transit of Deleware County Inc ($14.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 84% and program service revenue 14% of the total. Other salaries and wages came to $5.1m. At year end it held assets of $39.5m against liabilities of $5.4m, net assets of $34.1m. It reported 182 employees.