Faith Haven Incorporated

Analysis

Faith Haven Incorporated is a registered charity in United States, based in Duluth, MN. It received its IRS tax-exemption ruling in May 1969, 57 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 June 2023, Faith Haven Incorporated reported income of $1.1m and spending of $995k, spending 95% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $809k to $1.1m (+30%), an average of +6.8% a year. The sharpest change came in the year to June 2023, when income rose by 22%. Over the whole period it spent 88% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Faith Haven Incorporated sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 79th percentile within MN. Charities of a similar size with the same main cause include Springfield Supported Housing Program ($1.1m), Southwestern Montana Family YMCA Inc ($1.1m) and New York Housing Conference Inc ($1.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.1% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $68k (6.8% of expenses). Other salaries and wages came to $158k. At year end it held assets of $2.2m against liabilities of $414k, net assets of $1.8m. It reported 5 employees.