Terrace Gardens Inc

Analysis

Terrace Gardens Inc is a registered charity in United States, based in Milpitas, CA. It received its IRS tax-exemption ruling in July 1991, 35 years ago. 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 December 2023, Terrace Gardens Inc reported income of $2.6m and spending of $2.5m, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.3m to $2.6m (+15%), an average of +3.5% a year. Over the whole period it spent 99% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Terrace Gardens Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 89th percentile within CA. Charities of a similar size with the same main cause include Boy Scouts of America ($2.6m), Alk Positive Incorporated ($2.6m) and Sakonnet Preservation Assoc Inc ($2.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 6.7% and program service revenue 91% of the total. Other salaries and wages came to $434k. At year end it held assets of $10.5m against liabilities of $399k, net assets of $10.1m.