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. 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 $655k and spending of $681k, spending 104% of its income. Across the 4 years on record, from June 2019 to June 2023, income fell from $781k to $655k (-16%), an average of -5.7% a year. The sharpest change came in the year to June 2023, when income rose by 36%. Over the whole period it spent 102% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Homes for the Homeless Inc sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 70th percentile within NY. Charities of a similar size with the same main cause include Palmetto Youth Center ($655k), Lapd Devonshire Police Activity League Supporters ($655k) and New Jersey State Organization of Cystic Fibrosis ($655k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 96% of the total. Other salaries and wages came to $150k. At year end it held assets of $290k against liabilities of $395k, net assets of -$105k.