Housing Opportunities Corporation of Potter County

Analysis

Housing Opportunities Corporation of Potter County is a registered charity in United States, based in Coudersport, PA. It received its IRS tax-exemption ruling in February 2001, 25 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Housing Opportunities Corporation of Potter County reported income of $102k and spending of $127k, spending 124% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $93k to $102k (+9.5%), an average of +2.3% a year. The sharpest change came in the year to December 2022, when income rose by 18%. Over the whole period it spent 136% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Housing Opportunities Corporation of Potter County sits at the 23rd percentile: it is larger than about 23% of them. Against every charity in United States with reported income it ranks in the 37th percentile, and in the 35th percentile within PA. Charities of a similar size with the same main cause include Ely Senior Housing Development Corp ($102k), Willo Housing Corporation ($102k) and Afiig NFP ($102k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $17k. At year end it held assets of $233k against liabilities of $18k, net assets of $215k.

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.