The Woonsocket Neighborhood Development Corporation
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2020 | 3,212,949 | 2,709,688 | 503,261 | 24.0 | 54% |
| 2021 | 2,965,788 | 2,781,543 | 184,245 | 23.9 | 50% |
| 2022 | 3,749,387 | 3,304,469 | 444,918 | 21.7 | 53% |
| 2023 | 2,634,991 | 5,260,655 | −2,625,664 | 8.0 | 35% |
In its most recent public year (2023), this organization spent $2,625,664 more than it brought in. Its reserves stood at about 8 months of spending, down from 24 in 2020. Staff pay was 35% of spending. $223,652 of its net assets are donor-restricted.
Reserve months = net assets ÷ average monthly spending; net assets count everything the organization owns beyond its debts — buildings and donor-restricted funds included, not just cash. Staff pay = salaries, wages, and officer compensation; it excludes benefits and payroll taxes. The IRS releases this data years after the fact — this organization's newest public year is 2023. Years refer to the calendar year in which the organization's fiscal year ended. Short-form filers do not publicly report donor-restricted balances or staffing costs. Source filings
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