Woodside Village VI Inc

Analysis

Woodside Village VI Inc is a registered charity in United States, based in Vineyard Haven, MA. It received its IRS tax-exemption ruling in April 2003, 23 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 August 2023, Woodside Village VI Inc reported income of $166k and spending of $194k, spending 117% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income grew from $128k to $166k (+30%), an average of +6.7% a year. The sharpest change came in the year to August 2023, when income rose by 18%. Over the whole period it spent 124% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Woodside Village VI Inc sits at the 33rd percentile: it is larger than about 33% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 54th percentile within MA. Charities of a similar size with the same main cause include Lakewood Housing Inc ($166k), Nehi Inc ($166k) and Gault Grove Apartments Inc ($166k).

On its Form 990 for the period ending August 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $47k. At year end it held assets of $925k against liabilities of $390k, net assets of $535k.

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.