Homeward

Analysis

Homeward is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in September 2004, 22 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 2024, Homeward reported income of $2.5m and spending of $2.6m, spending 104% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $1.4m to $2.5m (+76%), an average of +12% a year. The sharpest change came in the year to June 2021, when income rose by 277%. Over the whole period it spent 88% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Homeward sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 88th percentile within VA. Charities of a similar size with the same main cause include Church of God Childrens Home of North Carolina Inc ($2.5m), Edgewater Place Inc ($2.5m) and Fairfax-San Anselmo Childrens Center ($2.5m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 95% and program service revenue 1.5% of the total. Other salaries and wages came to $1.1m. At year end it held assets of $4.0m against liabilities of $367k, net assets of $3.6m. It reported 32 employees.