Homestead Supportive Housingcorporation

Analysis

Homestead Supportive Housingcorporation is a registered charity in United States, based in Fairfield, CA. It received its IRS tax-exemption ruling in October 2006, 20 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 June 2023, Homestead Supportive Housingcorporation reported income of $232k and spending of $351k, spending 151% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $141k to $232k (+65%), an average of +13% a year. The sharpest change came in the year to June 2022, when income rose by 57%. Over the whole period it spent 180% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Homestead Supportive Housingcorporation sits at the 41st percentile: it is larger than about 41% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 59th percentile within CA. Charities of a similar size with the same main cause include Minority Housing Corporation Topeka ($232k), Catholic Eldercare at St Hedwigs ($232k) and McKendree Oaks at Savannah Inc ($232k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 64% and program service revenue 36% of the total. Other salaries and wages came to $33k. At year end it held assets of $1.7m against liabilities of $3.9m, net assets of -$2.2m.

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.