Housing Opportunities & Management Enterprises Inc

Analysis

Housing Opportunities & Management Enterprises Inc is a registered charity in United States, based in Lynn, MA. It received its IRS tax-exemption ruling in September 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 June 2023, Housing Opportunities & Management Enterprises Inc reported income of $659k and spending of $764k, spending 116% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $627k to $659k (+5.0%), an average of +1.2% a year. Over the whole period it spent 99% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Housing Opportunities & Management Enterprises Inc sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 74th percentile within MA. Charities of a similar size with the same main cause include Dechantal Apartments ($658k), Cooperative Housing Corporation ($659k) and Maine Association of Recovery Residences ($658k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $1.3m against liabilities of $896k, net assets of $416k.