Drake House Inc

Analysis

Drake House Inc is a registered charity in United States, based in Roswell, GA. It received its IRS tax-exemption ruling in January 2005, 21 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 2023, Drake House Inc reported income of $3.0m and spending of $2.5m, spending 84% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $1.8m to $3.0m (+65%), an average of +18% a year. The sharpest change came in the year to June 2023, when income rose by 21%. Over the whole period it spent 85% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Drake House Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 91st percentile within GA. Charities of a similar size with the same main cause include East Carolina Community Development Inc ($3.0m), Idaho Housing Foundation Inc ($3.0m) and Pine Gardens I Inc ($3.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 93% and program service revenue 3.8% of the total. Compensation of current officers, directors and key employees was $101k (4.0% of expenses). Other salaries and wages came to $943k. At year end it held assets of $6.6m against liabilities of $572k, net assets of $6.1m. It reported 33 employees.