Advance Housing Inc

Analysis

Advance Housing Inc is a registered charity in United States, based in Paramus, NJ. It received its IRS tax-exemption ruling in May 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 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, Advance Housing Inc reported income of $5.6m and spending of $5.4m, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $5.4m to $5.6m (+3.5%), an average of +0.9% a year. The sharpest change came in the year to December 2022, when income dropped by 16%. Over the whole period it spent 96% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Advance Housing 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 94th percentile within NJ. Charities of a similar size with the same main cause include Habitat for Humanity International Inc ($5.6m), County Corp ($5.6m) and Virginia Community Development Fund Inc ($5.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 74% and program service revenue 22% of the total. Compensation of current officers, directors and key employees was $405k (7.5% of expenses). Other salaries and wages came to $2.0m. At year end it held assets of $18.8m against liabilities of $16.0m, net assets of $2.8m. It reported 82 employees.