Near East Area Renewal Inc

Analysis

Near East Area Renewal Inc is a registered charity in United States, based in Indianapolis, IN. It received its IRS tax-exemption ruling in January 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, Near East Area Renewal Inc reported income of $439k and spending of $709k, spending 161% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income fell from $1.4m to $439k (-69%), an average of -21% a year. The sharpest change came in the year to June 2021, when income dropped by 68%. Over the whole period it spent 67% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Near East Area Renewal Inc sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 68th percentile within IN. Charities of a similar size with the same main cause include Isla Housing and Development Corporation ($439k), Holy Trinity Housing Inc ($439k) and Opportunity Place Inc ($439k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 59% of the total. Compensation of current officers, directors and key employees was $92k (13% of expenses). Other salaries and wages came to $209k. At year end it held assets of $4.3m against liabilities of $236k, net assets of $4.1m. It reported 4 employees.