Heading Home Inc

Analysis

Heading Home Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in December 1974, 52 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 2023, Heading Home Inc reported income of $30.9m and spending of $28.0m, spending 91% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $16.5m to $30.9m (+87%), an average of +17% a year. The sharpest change came in the year to June 2023, when income rose by 45%. Over the whole period it spent 93% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Heading Home Inc sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 97th percentile within MA. Charities of a similar size with the same main cause include Habitat for Humanity of Collier County Inc ($30.9m), Tarrant County Senior Living Center Inc ($31.0m) and Washington Housing Conservancy Inc ($30.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 97% and program service revenue 0.7% of the total. Compensation of current officers, directors and key employees was $615k (2.2% of expenses). Other salaries and wages came to $8.2m. At year end it held assets of $33.0m against liabilities of $21.7m, net assets of $11.2m. It reported 234 employees.