Franklin Homestead Inc

Analysis

Franklin Homestead Inc is a registered charity in United States, based in Franklin, VT. It received its IRS tax-exemption ruling in January 1992, 34 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, Franklin Homestead Inc reported income of $897k and spending of $691k, leaving 23% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $521k to $897k (+72%), an average of +15% a year. The sharpest change came in the year to December 2023, when income rose by 35%. Over the whole period it spent 100% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Franklin Homestead Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 75th percentile within VT. Charities of a similar size with the same main cause include The Southwest Fair Housing Council ($897k), St Joseph Housing Initiative ($897k) and Building Communities Inc ($896k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 28% and program service revenue 70% of the total. Compensation of current officers, directors and key employees was $81k (12% of expenses). Other salaries and wages came to $226k. At year end it held assets of $1.7m against liabilities of $805k, net assets of $924k. It reported 20 employees.