Holiness Homes of Vision

Analysis

Holiness Homes of Vision is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in November 2011, 15 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, Holiness Homes of Vision reported income of $951k and spending of $1.1m, spending 119% of what it took in. Across the 4 years on record, from December 2019 to December 2023, income grew from $868k to $951k (+9.6%), an average of +3.1% a year. Over the whole period it spent 120% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Holiness Homes of Vision sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 78th percentile within IL. Charities of a similar size with the same main cause include My Sisters Place of Gainesville Inc ($951k), MC Sherrystown Interfaith Housing Corporation ($952k) and Rose Hill Townhouses Cooperative Inc ($951k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 81% and program service revenue 18% of the total. Compensation of current officers, directors and key employees was $90k (7.9% of expenses). Other salaries and wages came to $201k. At year end it held assets of $5.8m against liabilities of $8.6m, net assets of -$2.8m. It reported 7 employees.

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.