Seafarers House Inc

Analysis

Seafarers House Inc is a registered charity in United States, based in Ft Lauderdale, FL. It received its IRS tax-exemption ruling in January 1992, 34 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 December 2023, Seafarers House Inc reported income of $1.1m and spending of $831k, leaving 22% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.3m to $1.1m (-19%), an average of -5.3% a year. The sharpest change came in the year to December 2021, when income dropped by 19%. Over the whole period it spent 70% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Seafarers House Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 82nd percentile within FL. Charities of a similar size with the same main cause include MKS Recovery Inc ($1.1m), Raphael Village ($1.1m) and Elevate Lives ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% and program service revenue 1.0% of the total. Compensation of current officers, directors and key employees was $110k (13% of expenses). Other salaries and wages came to $204k. At year end it held assets of $4.7m against liabilities of $422k, net assets of $4.3m. It reported 5 employees.