New Haven Homeownership Center Inc

Analysis

New Haven Homeownership Center Inc is a registered charity in United States, based in New Haven, CT. It received its IRS tax-exemption ruling in October 2001, 25 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, New Haven Homeownership Center Inc reported income of $425k and spending of $638k, spending 150% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $407k to $425k (+4.5%), an average of +1.1% a year. The sharpest change came in the year to December 2021, when income rose by 63%. Over the whole period it spent 195% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, New Haven Homeownership Center Inc sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 65th percentile within CT. Charities of a similar size with the same main cause include Williams County Agricultural Society ($425k), Harvest Seed Project Foundation ($426k) and Bristol Township Senior Citizens ($425k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 92% and program service revenue 7.6% of the total. Other salaries and wages came to $443k. At year end it held assets of $778k against liabilities of $134k, net assets of $644k.

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.