Homesharing Program of Somerset County Inc

Analysis

Homesharing Program of Somerset County Inc is a registered charity in United States, based in Bridgewater, NJ. It received its IRS tax-exemption ruling in April 1989, 37 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, Homesharing Program of Somerset County Inc reported income of $282k and spending of $309k, spending 110% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $258k to $282k (+9.2%), an average of +2.2% a year. The sharpest change came in the year to December 2020, when income rose by 21%. Over the whole period it spent 90% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Homesharing Program of Somerset County Inc sits at the 45th percentile: it is larger than about 45% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 67th percentile within NJ. Charities of a similar size with the same main cause include Turning Point Center ($282k), Fifteenth Avenue Baptist Village Manor ($282k) and Aster Inc ($282k).

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 $85k (27% of expenses). Other salaries and wages came to $84k. At year end it held assets of $361k against liabilities of $88k, net assets of $273k. It reported 3 employees.