Housing Opportunities Made Equal Inc

Analysis

Housing Opportunities Made Equal Inc is a registered charity in United States, based in Buffalo, NY. It received its IRS tax-exemption ruling in August 1965, 61 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 December 2023, Housing Opportunities Made Equal Inc reported income of $2.0m and spending of $1.8m, spending 87% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $799k to $2.0m (+152%), an average of +26% a year. The sharpest change came in the year to December 2021, when income rose by 42%. Over the whole period it spent 88% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Housing Opportunities Made Equal Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 83rd percentile within NY. Charities of a similar size with the same main cause include Homes for Iowa Inc ($2.0m), Habitat for Humanity International Inc ($2.0m) and Kamaaina Hale Apartments ($2.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 0.6% of the total. Compensation of current officers, directors and key employees was $110k (6.3% of expenses). Other salaries and wages came to $853k. At year end it held assets of $1.9m against liabilities of $128k, net assets of $1.8m. It reported 87 employees.