House of Bread Inc

Analysis

House of Bread Inc is a registered charity in United States, based in Hartford, CT. It received its IRS tax-exemption ruling in February 1983, 43 years ago. 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 December 2023, House of Bread Inc reported income of $3.0m and spending of $2.4m, spending 81% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.3m to $3.0m (+31%), an average of +7.0% a year. The sharpest change came in the year to December 2021, when income rose by 40%. Over the whole period it spent 90% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, House of Bread Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 87th percentile within CT. Charities of a similar size with the same main cause include Battered Womens Shelter Inc ($3.0m), The Landmarks Financial Corporation ($3.0m) and Round Rock Area Serving Center Incorporated ($3.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 89% and program service revenue 8.2% of the total. Compensation of current officers, directors and key employees was $298k (12% of expenses). Other salaries and wages came to $375k. At year end it held assets of $8.0m against liabilities of $80k, net assets of $7.9m. It reported 19 employees.