Watertower Residential Inc

Analysis

Watertower Residential Inc is a registered charity in United States, based in Merrillville, IN. It received its IRS tax-exemption ruling in July 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 (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, Watertower Residential Inc reported income of $109k and spending of $179k, spending 165% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $94k to $109k (+16%), an average of +5.1% a year. Over the whole period it spent 150% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Watertower Residential 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 37th percentile within IN. Charities of a similar size with the same main cause include Adoration Abode Inc ($108k), Bethany Inc ($109k) and Mental Retardation Community Services of Nassau County-Project ($108k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 55% and program service revenue 45% of the total. At year end it held assets of $1.1m against liabilities of $87k, net assets of $984k.

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.