Bridgewell Lynn Housing Corporation

Analysis

Bridgewell Lynn Housing Corporation is a registered charity in United States, based in Peabody, MA. It received its IRS tax-exemption ruling in March 2011, 15 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, Bridgewell Lynn Housing Corporation reported income of $106k and spending of $185k, spending 174% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $103k to $106k (+3.6%), an average of +0.9% a year. Over the whole period it spent 166% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Bridgewell Lynn Housing Corporation 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 45th percentile within MA. Charities of a similar size with the same main cause include Northland Lutheran Affordable Living for the Elderly Inc ($106k), Potentia Living Inc ($107k) and Julia Greely Home Inc ($106k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 60% and program service revenue 40% of the total. At year end it held assets of $1.7m against liabilities of $761k, net assets of $890k.

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.