Seeds of Hope Housing Inc

Analysis

Seeds of Hope Housing Inc is a registered charity in United States, based in Salem, MA. It received its IRS tax-exemption ruling in August 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 supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Seeds of Hope Housing Inc reported income of $98k and spending of $196k, spending 200% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $92k to $98k (+6.4%), an average of +1.6% a year. Over the whole period it spent 208% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Seeds of Hope Housing Inc sits at the 22nd percentile: it is larger than about 22% of them. Against every charity in United States with reported income it ranks in the 36th percentile, and in the 43rd percentile within MA. Charities of a similar size with the same main cause include Habitat for Humanity International Inc ($98k), Tents of Grace Manor Housing ($98k) and Association of Zone A&b Homeowners Subsidiary Inc ($98k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $40k. At year end it held assets of $1.5m against liabilities of $2.1m, net assets of -$556k.

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.