Homenetmen

Analysis

Homenetmen is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in April 1970, 56 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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 2022, Homenetmen reported income of $1.3m and spending of $1.4m, spending 110% of what it took in. Across the 5 years on record, from December 2019 to December 2022, income fell from $5.2m to $1.3m (-75%), an average of -29% a year. The sharpest change came in the year to October 2022, when income rose by 74%. Over the whole period it spent 108% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Homenetmen sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 83rd percentile within CA. Charities of a similar size with the same main cause include Dare2tri Paratriathlon Club ($1.3m), Valley Jewish Community Center ($1.3m) and Victory Volleyball Club Inc ($1.3m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 49% and program service revenue 51% of the total. Other salaries and wages came to $321k. At year end it held assets of $16.6m against liabilities of $4.9m, net assets of $11.7m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.