Eastern Connecticut Housing Opportunities Inc

Analysis

Eastern Connecticut Housing Opportunities Inc is a registered charity in United States, based in New London, CT. It received its IRS tax-exemption ruling in July 1990, 36 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 December 2023, Eastern Connecticut Housing Opportunities Inc reported income of $4.6m and spending of $2.9m, leaving 37% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.6m to $4.6m (+27%), an average of +6.2% a year. The sharpest change came in the year to December 2021, when income rose by 62%. Over the whole period it spent 79% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Eastern Connecticut Housing Opportunities Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 90th percentile within CT. Charities of a similar size with the same main cause include Hope Communities Inc ($4.6m), People United for Sustainable Housing Incorporated ($4.6m) and Capitol Area Developments Inc ($4.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 29% and program service revenue 67% of the total. Compensation of current officers, directors and key employees was $140k (4.8% of expenses). Other salaries and wages came to $248k. At year end it held assets of $13.4m against liabilities of $6.9m, net assets of $6.5m. It reported 3 employees.