Homeless Empowerment Project Inc

Analysis

Homeless Empowerment Project Inc is a registered charity in United States, based in Cambridge, MA. It received its IRS tax-exemption ruling in January 2024, 2 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 June 2023, Homeless Empowerment Project Inc reported income of $64k and spending of $64k, spending 101% of its income. Across the 4 years on record, from June 2020 to June 2023, income fell from $96k to $64k (-34%), an average of -13% a year. The sharpest change came in the year to June 2021, when income dropped by 47%. Over the whole period it spent 92% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Homeless Empowerment Project Inc sits at the 22nd percentile: it is larger than about 22% of them. Against every charity in United States with reported income it ranks in the 25th percentile, and in the 34th percentile within MA. Charities of a similar size with the same main cause include PNR USA Foundation Inc ($64k), Thayne Community Food Bank ($64k) and Phi Beta Sigma Fraternity-Eta Beta Sigma Chapter Incorporated ($64k).

On its Form 990-EZ for the period ending June 2023, revenue came from contributions and grants 76% and program service revenue 22% of the total. At year end it held assets of $44k against liabilities of $14k, net assets of $30k.