The First Housing Corporation

Analysis

The First Housing Corporation is a registered charity in United States, based in Hartford, CT. It received its IRS tax-exemption ruling in March 1986, 40 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 July 2023, The First Housing Corporation reported income of $1.1m and spending of $1.0m, spending 94% of its income. Across the 5 years on record, from July 2019 to July 2023, income grew from $1.1m to $1.1m (+1.9%), an average of +0.5% a year. Over the whole period it spent 95% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, The First Housing Corporation sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 78th percentile within CT. Charities of a similar size with the same main cause include California Housing Consortium ($1.1m), New Life Furniture Bank of Ma Inc ($1.1m) and East Bay Housing Organizations ($1.1m).

On its Form 990 for the period ending July 2023, revenue came from program service revenue 96% of the total. Other salaries and wages came to $134k. At year end it held assets of $1.4m against liabilities of $3.6m, net assets of -$2.3m. It reported 6 employees.