Furniture Bank of Southeast Connecticut Inc

Analysis

Furniture Bank of Southeast Connecticut Inc is a registered charity in United States, based in Gales Ferry, CT. It received its IRS tax-exemption ruling in October 2005, 21 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 2024, Furniture Bank of Southeast Connecticut Inc reported income of $95k and spending of $77k, spending 82% of its income. Across the 2 years on record, from June 2023 to June 2024, income grew from $78k to $95k (+22%), an average of +22% a year. The sharpest change came in the year to June 2024, when income rose by 22%. Over the whole period it spent 92% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Furniture Bank of Southeast Connecticut Inc sits at the 31st percentile: it is larger than about 31% of them. Against every charity in United States with reported income it ranks in the 35th percentile, and in the 34th percentile within CT. Charities of a similar size with the same main cause include Health & Education Housing Services Inc ($95k), Threadbender Textiles ($95k) and Emmanuel Temple Family Life Center Inc ($95k).

On its Form 990-EZ for the period ending June 2024, revenue came from contributions and grants 90% of the total. At year end it held assets of $27k against liabilities of $0, net assets of $27k.