Homestart Inc

Analysis

Homestart Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in August 1996, 30 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 September 2022, Homestart Inc reported income of $16.6m and spending of $14.3m, spending 86% of its income. Across the 4 years on record, from September 2019 to September 2022, income grew from $10.5m to $16.6m (+58%), an average of +16% a year. The sharpest change came in the year to September 2021, when income rose by 25%. Over the whole period it spent 89% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Homestart Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 96th percentile within MA. Charities of a similar size with the same main cause include Abilities Unlimited of Jonesboro Incorporated ($16.6m), Pride Inc ($16.6m) and Goodwill Industries of Redwood Empire ($16.6m).

On its Form 990 for the period ending September 2022, revenue came from contributions and grants 97% and program service revenue 2.9% of the total. Compensation of current officers, directors and key employees was $172k (1.2% of expenses). Other salaries and wages came to $4.3m. At year end it held assets of $8.1m against liabilities of $786k, net assets of $7.3m. It reported 97 employees.