Granite City Housing Inc

Analysis

Granite City Housing Inc is a registered charity in United States, based in Barre, VT. It received its IRS tax-exemption ruling in April 1996, 30 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, Granite City Housing Inc reported income of $1.1m and spending of $1.3m, spending 113% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $939k to $1.1m (+21%), an average of +4.9% a year. The sharpest change came in the year to June 2020, when income rose by 22%. Over the whole period it spent 98% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Granite City Housing Inc sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 79th percentile within VT. Charities of a similar size with the same main cause include Custer Care ($1.1m), Fair Housing Center of West Michigan ($1.1m) and Women in Need Recovery ($1.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 2.5% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $105k (8.3% of expenses). Other salaries and wages came to $598k. At year end it held assets of $1.4m against liabilities of $897k, net assets of $476k. It reported 42 employees.