Homes for the Homeless Inc

Analysis

Homes for the Homeless Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in March 1991, 35 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, Homes for the Homeless Inc reported income of $43.8m and spending of $44.6m, spending 102% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $25.4m to $43.8m (+72%), an average of +15% a year. The sharpest change came in the year to June 2020, when income rose by 26%. Over the whole period it spent 103% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Homes for the Homeless Inc sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 98th percentile within NY. Charities of a similar size with the same main cause include Casa de Las Campanas Inc ($43.8m), Transitional Services for New York Inc ($43.9m) and Cumberland Rest Home Trinity Terrace ($43.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 89% of the total. Compensation of current officers, directors and key employees was $914k (2.1% of expenses). Other salaries and wages came to $16.9m. At year end it held assets of $13.0m against liabilities of $10.0m, net assets of $3.1m. It reported 696 employees.