Homes for Hope Inc

Analysis

Homes for Hope Inc is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in March 2003, 23 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, Homes for Hope Inc reported income of $1.5m and spending of $1.6m, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.5m to $1.5m (-0.1%), an average of +-0.0% a year. The sharpest change came in the year to December 2023, when income rose by 16%. Over the whole period it spent 99% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Homes for Hope Inc sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 62nd percentile within DC. Charities of a similar size with the same main cause include Community Healthcare Realty Inc ($1.5m), Danish Home Foundation ($1.5m) and Homes for Independence Inc ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.4% and program service revenue 96% of the total. Compensation of current officers, directors and key employees was $74k (4.7% of expenses). Other salaries and wages came to $458k. At year end it held assets of $2.4m against liabilities of $1.6m, net assets of $781k.