Building Homes for Heroes Inc

Analysis

Building Homes for Heroes Inc is a registered charity in United States, based in Island Park, NY. It received its IRS tax-exemption ruling in November 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 (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, Building Homes for Heroes Inc reported income of $13.8m and spending of $12.5m, spending 90% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $10.1m to $13.8m (+36%), an average of +8.0% a year. The sharpest change came in the year to December 2021, when income rose by 35%. Over the whole period it spent 100% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Building Homes for Heroes Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 94th percentile within NY. Charities of a similar size with the same main cause include Elevation Community Land Trust ($13.8m), Affordable Housing Development Fund Inc ($13.8m) and Colorado Senior Residences Inc ($13.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $231k (1.9% of expenses). Other salaries and wages came to $890k. At year end it held assets of $16.2m against liabilities of $262k, net assets of $15.9m. It reported 15 employees.