Metacomet Homes Inc

Analysis

Metacomet Homes Inc is a registered charity in United States, based in East Granby, CT. It received its IRS tax-exemption ruling in January 1973, 53 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, Metacomet Homes Inc reported income of $722k and spending of $727k, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $616k to $722k (+17%), an average of +4.1% a year. The sharpest change came in the year to December 2020, when income rose by 20%. Over the whole period it spent 99% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Metacomet Homes Inc sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 74th percentile within CT. Charities of a similar size with the same main cause include Edgewood Community Childcare and Learning Center ($721k), Courtyard Affordable Housing Corp ($722k) and Featherfist Development Corporation Npo ($721k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 26% and program service revenue 73% of the total. Other salaries and wages came to $115k. At year end it held assets of $853k against liabilities of $1.1m, net assets of -$264k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.