Housing Opportunities Made Equal of Virginia Inc

Analysis

Housing Opportunities Made Equal of Virginia Inc is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in July 1973, 53 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 2024, Housing Opportunities Made Equal of Virginia Inc reported income of $5.4m and spending of $6.4m, spending 118% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income grew from $3.4m to $5.4m (+56%), an average of +9.3% a year. The sharpest change came in the year to June 2022, when income rose by 112%. Over the whole period it spent 105% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Housing Opportunities Made Equal of Virginia Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 93rd percentile within VA. Charities of a similar size with the same main cause include Peter and Paul Community Services Inc ($5.4m), Flagstaff Shelter Services Inc ($5.4m) and Topside Manor Inc ($5.4m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 94% and program service revenue 5.5% of the total. Other salaries and wages came to $2.1m. At year end it held assets of $3.3m against liabilities of $718k, net assets of $2.6m. It reported 67 employees.