Belmont Housing Resources for Wny Inc

Analysis

Belmont Housing Resources for Wny Inc is a registered charity in United States, based in Buffalo, NY. It received its IRS tax-exemption ruling in January 1977, 49 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 December 2023, Belmont Housing Resources for Wny Inc reported income of $8.6m and spending of $8.5m, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $8.2m to $8.6m (+4.9%), an average of +1.2% a year. The sharpest change came in the year to December 2020, when income rose by 27%. Over the whole period it spent 87% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Belmont Housing Resources for Wny Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 92nd percentile within NY. Charities of a similar size with the same main cause include United Housing Inc ($8.6m), Path Ventures ($8.6m) and Hibiscus Childrens Center Inc ($8.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 23% and program service revenue 72% of the total. Compensation of current officers, directors and key employees was $753k (8.8% of expenses). Other salaries and wages came to $4.6m. At year end it held assets of $18.9m against liabilities of $6.3m, net assets of $12.6m. It reported 162 employees.