Housing Opportunities Corporation

Analysis

Housing Opportunities Corporation is a registered charity in United States, based in Providence, RI. It received its IRS tax-exemption ruling in February 1996, 30 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, Housing Opportunities Corporation reported income of $3.2m and spending of $3.4m, spending 106% of what it took in. Across the 3 years on record, from June 2021 to June 2023, income fell from $3.3m to $3.2m (-2.0%), an average of -1.0% a year. Over the whole period it spent 104% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Housing Opportunities Corporation sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 86th percentile within RI. Charities of a similar size with the same main cause include Tipton Home ($3.2m), Orrvilla Inc ($3.2m) and Elan Gardens Inc ($3.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 2.2% and program service revenue 95% of the total. Other salaries and wages came to $2.4m. At year end it held assets of $1.7m against liabilities of $499k, net assets of $1.2m.