Homes for Families Inc

Analysis

Homes for Families Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in June 1997, 29 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 June 2021, Homes for Families Inc reported income of $660k and spending of $350k, leaving 47% of income unspent that year. Across the 3 years on record, from June 2019 to June 2021, income grew from $257k to $660k (+157%), an average of +60% a year. The sharpest change came in the year to June 2021, when income rose by 191%. Over the whole period it spent 100% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Homes for Families Inc sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 74th percentile within MA. Charities of a similar size with the same main cause include Housing Partnership ($659k), Homestead Resources ($660k) and Cooperative Housing Corporation ($659k).

On its Form 990 for the period ending June 2021, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $82k (23% of expenses). Other salaries and wages came to $96k. At year end it held assets of $449k against liabilities of $68k, net assets of $381k. It reported 3 employees.