Abilities at Fountain Square Inc

Analysis

Abilities at Fountain Square Inc is a registered charity in United States, based in Clearwater, FL. It received its IRS tax-exemption ruling in September 1995, 31 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, Abilities at Fountain Square Inc reported income of $107k and spending of $136k, spending 127% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $95k to $107k (+12%), an average of +3.9% a year. 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, Abilities at Fountain Square Inc sits at the 24th percentile: it is larger than about 24% of them. Against every charity in United States with reported income it ranks in the 39th percentile, and in the 42nd percentile within FL. Charities of a similar size with the same main cause include Kennewick Perry Suites ($107k), Seneca Housing Corporation ($107k) and Newburg Community Housing Inc ($107k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $24k. At year end it held assets of $405k against liabilities of $306k, net assets of $99k.

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.