Freedom Housing Corporation

Analysis

Freedom Housing Corporation is a registered charity in United States, based in Newport, RI. It received its IRS tax-exemption ruling in February 2004, 22 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 (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 2024, Freedom Housing Corporation reported income of $142k and spending of $177k, spending 124% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $141k to $142k (+0.8%), an average of +0.2% a year. Over the whole period it spent 122% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Freedom Housing Corporation sits at the 30th percentile: it is larger than about 30% of them. Against every charity in United States with reported income it ranks in the 46th percentile, and in the 42nd percentile within RI. Charities of a similar size with the same main cause include Stevenson Land Corporation ($142k), Newfound Riseup Fund ($142k) and Mercy-Phs Senior Housing ($142k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 14% and program service revenue 84% of the total. At year end it held assets of $1.3m against liabilities of $527k, net assets of $762k.

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.