Praxis Housing Initiatives Inc

Analysis

Praxis Housing Initiatives Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in December 1995, 31 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 June 2023, Praxis Housing Initiatives Inc reported income of $34.1m and spending of $34.8m, spending 102% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $23.9m to $34.1m (+43%), an average of +9.4% a year. The sharpest change came in the year to June 2021, when income rose by 47%. Over the whole period it spent 98% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Praxis Housing Initiatives Inc sits at the 99th percentile: it is one of the largest 1% in its cause. 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 Willow Brook Christian Services ($33.6m), Womens Housing and Economic Development Corporation ($34.3m) and Carolina Village Inc ($33.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% and program service revenue 1.2% of the total. Compensation of current officers, directors and key employees was $606k (1.7% of expenses). Other salaries and wages came to $6.0m. At year end it held assets of $57.3m against liabilities of $48.2m, net assets of $9.1m. It reported 266 employees.