Homestead Inc of Nantucket

Analysis

Homestead Inc of Nantucket is a registered charity in United States, based in Nantucket, MA. It received its IRS tax-exemption ruling in May 1940, 86 years ago. 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 July 2024, Homestead Inc of Nantucket reported income of $681k and spending of $720k, spending 106% of what it took in. Across the 5 years on record, from July 2020 to July 2024, income fell from $970k to $681k (-30%), an average of -8.5% a year. The sharpest change came in the year to July 2022, when income rose by 272%. Over the whole period it spent 73% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Homestead Inc of Nantucket sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 75th percentile within MA. Charities of a similar size with the same main cause include Womens Crisis Services of Leflore County ($681k), Opportunities in Science Inc ($681k) and Seminary Avenue Development Corporation ($681k).

On its Form 990 for the period ending July 2024, revenue came from contributions and grants 26% and program service revenue 51% of the total. Other salaries and wages came to $395k. At year end it held assets of $6.5m against liabilities of $9,470, net assets of $6.5m. It reported 8 employees.