2023 Revenue:
In 2023, Crossroads and its subsidiaries* raised or earned $33,182,218
2023 Revenue
Crossroads relies on a variety of sources to fund our housing, shelters, services and programs, including:
- Federal, State and City funding
- Corporate, Community and Family Foundations
- Individual and Corporate Fundraising
- Earned Revenue (Rents, Program Fees, Investment Earnings, etc.)
In 2023, Crossroads and its subsidiaries* raised or earned $33,182,218, an increase from $29 million in 2022 thanks to funds raised as part of our Roads to Home capital campaign and a $5 million gift from Jeff Bezos’ Day 1 Families Fund.
Grants and contracts were also up significantly over the prior year due to a $10 million grant from the state to support the construction of our Summer Street Apartments. We were very grateful to receive about $6.6 million of that grant in 2023, which allowed us to jumpstart construction on this much-needed new housing last fall.
Thanks to a good year in the stock market, our investments also realized a gain of $575,000.
*Crossroads subsidiaries include Travelers Aid Housing, Kingstown Crossings I and Kingstown Crossings II
2023 Expenditures:
84% of our expenditures were spent on direct program support such as housing, shelter and education & employment services.
2023 Expenditures
Total expenditures for our operations before depreciation were $21,777,462.
Of that, $18.3 million, or 84 percent, was spent on direct program support such as housing, shelter and education and employment services.