Homestead Community Development Corporation

Analysis

Homestead Community Development Corporation is a registered charity in United States, based in Honolulu, HI. It received its IRS tax-exemption ruling in December 2015, 11 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 October 2023, Homestead Community Development Corporation reported income of $2.1m and spending of $1.6m, leaving 27% of income unspent that year. Across the 4 years on record, from October 2019 to October 2023, income grew from $803k to $2.1m (+164%), an average of +38% a year. The sharpest change came in the year to October 2022, when income rose by 112%. Over the whole period it spent 83% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Homestead Community Development Corporation sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 87th percentile within HI. Charities of a similar size with the same main cause include Arizona National Livestock Show Inc ($2.1m), Swimming with a Mission Inc ($2.1m) and Global Neighborhood ($2.1m).

On its Form 990 for the period ending October 2023, revenue came from contributions and grants 41% and program service revenue 56% of the total. Compensation of current officers, directors and key employees was $303k (19% of expenses). Other salaries and wages came to $54k. At year end it held assets of $4.3m against liabilities of $1.6m, net assets of $2.8m. It reported 18 employees.