Stewards Inc

Analysis

Stewards Inc is a registered charity in United States, based in Bakersfield, CA. It received its IRS tax-exemption ruling in August 1997, 29 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 December 2023, Stewards Inc reported income of $1.7m and spending of $1.8m, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.4m to $1.7m (+23%), an average of +5.2% a year. The sharpest change came in the year to December 2022, when income rose by 25%. Over the whole period it spent 99% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Stewards Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 85th percentile within CA. Charities of a similar size with the same main cause include TN Development Corp ($1.7m), Garces Residential Care Services ($1.7m) and 334-336 Bergen Street Housing Development Fund Corporation ($1.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.0% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $122k (6.9% of expenses). Other salaries and wages came to $253k. At year end it held assets of $475k against liabilities of $501k, net assets of -$26k. It reported 10 employees.

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.