Homecrest Community Services Inc

Analysis

Homecrest Community Services Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in April 1998, 28 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 2023, Homecrest Community Services Inc reported income of $1.8m and spending of $1.6m, spending 94% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.1m to $1.8m (+65%), an average of +13% a year. The sharpest change came in the year to June 2022, when income rose by 52%. Over the whole period it spent 92% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Homecrest Community Services Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 81st percentile within NY. Charities of a similar size with the same main cause include Life Learning Center Inc ($1.8m), Harvest Home Inc ($1.8m) and Tavon Center ($1.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 95% and program service revenue 2.2% of the total. Compensation of current officers, directors and key employees was $86k (5.3% of expenses). Other salaries and wages came to $499k. At year end it held assets of $1.2m against liabilities of $227k, net assets of $967k. It reported 21 employees.