Care for the Homeless Inc

Analysis

Care for the Homeless Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in June 1992, 34 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 December 2023, Care for the Homeless Inc reported income of $32.1m and spending of $31.1m, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $18.5m to $32.1m (+74%), an average of +15% a year. The sharpest change came in the year to December 2022, when income rose by 45%. Over the whole period it spent 96% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Care for the Homeless 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 97th percentile within NY. Charities of a similar size with the same main cause include Wellnest Emotional Health & Wellness ($32.1m), The Philadelphia Protestant Home ($32.2m) and Port Health Services ($32.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 70% and program service revenue 26% of the total. Compensation of current officers, directors and key employees was $1.2m (4.0% of expenses). Other salaries and wages came to $12.0m. At year end it held assets of $42.1m against liabilities of $31.8m, net assets of $10.3m. It reported 304 employees.