Wakefield Senior Housing Corp

Analysis

Wakefield Senior Housing Corp is a registered charity in United States, based in Wakefield, MA. It received its IRS tax-exemption ruling in January 2004, 22 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, Wakefield Senior Housing Corp reported income of $313k and spending of $350k, spending 112% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $276k to $313k (+14%), an average of +3.2% a year. The sharpest change came in the year to June 2023, when income rose by 15%. Over the whole period it spent 132% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Wakefield Senior Housing Corp sits at the 47th percentile: it is larger than about 47% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 64th percentile within MA. Charities of a similar size with the same main cause include Acre Triangle Community Development Corporation ($313k), Sunray Communities Inc ($313k) and Northwoods Alliance for Temporary Housing ($313k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 55% and program service revenue 44% of the total. At year end it held assets of $2.7m against liabilities of $1.0m, net assets of $1.7m.

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.