Neighborhood of Affordable Housing Inc

Analysis

Neighborhood of Affordable Housing Inc is a registered charity in United States, based in East Boston, MA. It received its IRS tax-exemption ruling in June 1988, 38 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 December 2023, Neighborhood of Affordable Housing Inc reported income of $10.8m and spending of $11.8m, spending 109% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.5m to $10.8m (+139%), an average of +24% a year. The sharpest change came in the year to December 2020, when income rose by 73%. Over the whole period it spent 104% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Neighborhood of Affordable Housing Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 94th percentile within MA. Charities of a similar size with the same main cause include Clarewood House Inc ($10.8m), Lutheran Retirement Center Salisbury Inc ($10.8m) and Columbus Housing Partnership Inc ($10.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 79% and program service revenue 21% of the total. Compensation of current officers, directors and key employees was $345k (2.9% of expenses). Other salaries and wages came to $1.6m. At year end it held assets of $28.4m against liabilities of $27.3m, net assets of $1.1m. It reported 25 employees.