Educational Housing Services Inc

Analysis

Educational Housing Services Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in December 1991, 35 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Educational Housing Services Inc reported income of $24.8m and spending of $28.5m, spending 115% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $30.4m to $24.8m (-19%), an average of -5.0% a year. The sharpest change came in the year to December 2021, when income dropped by 23%. Over the whole period it spent 110% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Educational Housing Services Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 96th percentile within NY. Charities of a similar size with the same main cause include Stoddard Baptist Global Care ($24.7m), Baywood Court ($24.8m) and The Coachella Valley Housing Coalition ($24.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.5% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $1.4m (5.0% of expenses). Other salaries and wages came to $1.6m. At year end it held assets of $142.2m against liabilities of $178.0m, net assets of -$35.8m. It reported 85 employees.

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.