Will Wood V

Analysis

Will Wood V is a registered charity in United States, based in Metairie, LA. It received its IRS tax-exemption ruling in December 1996, 30 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 July 2023, Will Wood V reported income of $284k and spending of $323k, spending 114% of what it took in. Across the 5 years on record, from July 2019 to July 2023, income grew from $279k to $284k (+1.8%), an average of +0.4% a year. The sharpest change came in the year to July 2022, when income rose by 44%. Over the whole period it spent 105% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Will Wood V sits at the 45th percentile: it is larger than about 45% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 59th percentile within LA. Charities of a similar size with the same main cause include 2044 Seventh Avenue Housing Development Fund Corporation ($284k), Washtenaw Housing Alliance ($284k) and Whitfield Place Inc ($284k).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 0.4% and program service revenue 99% of the total. At year end it held assets of $1.6m against liabilities of $859k, net assets of $789k.

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.