Housing Support Inc

Analysis

Housing Support Inc is a registered charity in United States, based in Newburyport, MA. It received its IRS tax-exemption ruling in November 1991, 35 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, Housing Support Inc reported income of $1.2m and spending of $1.3m, spending 105% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.3m to $1.2m (-5.7%), an average of -1.5% a year. The sharpest change came in the year to December 2022, when income rose by 30%. Over the whole period it spent 96% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Housing Support Inc sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 80th percentile within MA. Charities of a similar size with the same main cause include Rochester Housing Charities Inc ($1.2m), New Canaan Neighborhoods Inc ($1.2m) and Mhany 2002 Housing Development Fund Corporation ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 6.3% and program service revenue 93% of the total. Compensation of current officers, directors and key employees was $137k (11% of expenses). Other salaries and wages came to $224k. At year end it held assets of $5.8m against liabilities of $4.2m, net assets of $1.6m. It reported 5 employees.