Homes for Black Children

Analysis

Homes for Black Children is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in January 1972, 54 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Homes for Black Children reported income of $1.1m and spending of $1.2m, spending 108% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income grew from $803k to $1.1m (+37%), an average of +11% a year. Over the whole period it spent 105% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Homes for Black Children sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 80th percentile within MI. Charities of a similar size with the same main cause include Lexington Hearing and Speech Center Inc ($1.1m), Georgia Food Bank Association Inc ($1.1m) and Utah Refugee Connection ($1.1m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $210k (18% of expenses). Other salaries and wages came to $439k. At year end it held assets of $182k against liabilities of $1.6m, net assets of -$1.4m. It reported 13 employees.