Ithaca Neighborhood Housing Services Inc

Analysis

Ithaca Neighborhood Housing Services Inc is a registered charity in United States, based in Ithaca, NY. It received its IRS tax-exemption ruling in March 1977, 49 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, Ithaca Neighborhood Housing Services Inc reported income of $6.0m and spending of $5.0m, spending 84% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $5.0m to $6.0m (+20%), an average of +4.6% a year. The sharpest change came in the year to December 2021, when income rose by 83%. Over the whole period it spent 76% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Ithaca Neighborhood Housing Services Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 91st percentile within NY. Charities of a similar size with the same main cause include Friendship Apartment Village Corporation ($6.0m), Twin Cities Housing Development Corporation ($6.0m) and Texas Inter-Faith Housing Corporati on ($6.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 70% and program service revenue 35% of the total. Compensation of current officers, directors and key employees was $237k (4.7% of expenses). Other salaries and wages came to $1.4m. At year end it held assets of $46.7m against liabilities of $5.4m, net assets of $41.3m. It reported 33 employees.