Avesta Housing Management Corporation

Analysis

Avesta Housing Management Corporation is a registered charity in United States, based in Portland, ME. It received its IRS tax-exemption ruling in July 2019, 7 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, Avesta Housing Management Corporation reported income of $10.6m and spending of $10.4m, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $6.8m to $10.6m (+55%), an average of +12% a year. The sharpest change came in the year to December 2020, when income rose by 21%. Over the whole period it spent 97% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Avesta Housing Management Corporation sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within ME. Charities of a similar size with the same main cause include Southeast Grand St Guild HDF Co Inc Residential Management Assoc Inc ($10.6m), Westbeth Corp Housing Development Fund Company Inc ($10.6m) and Firm Foundation Community Housing ($10.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 8.6% and program service revenue 91% of the total. Compensation of current officers, directors and key employees was $110k (1.1% of expenses). Other salaries and wages came to $5.9m. At year end it held assets of $5.5m against liabilities of $4.0m, net assets of $1.5m. It reported 136 employees.