Great Falls Housing Corporation

Analysis

Great Falls Housing Corporation is a registered charity in United States, based in Paterson, NJ. It received its IRS tax-exemption ruling in June 2013, 13 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, Great Falls Housing Corporation reported income of $469k and spending of $526k, spending 112% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $327k to $469k (+44%), an average of +9.5% a year. The sharpest change came in the year to June 2022, when income rose by 22%. Over the whole period it spent 126% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Great Falls Housing Corporation sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 74th percentile within NJ. Charities of a similar size with the same main cause include Home Solutions of Davidson County NC Inc ($469k), Change Happens CDC ($469k) and Lifeline for Families Inc ($469k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 36% and program service revenue 64% of the total. At year end it held assets of $8.2m against liabilities of $4.1m, net assets of $4.1m.

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.