Long Beach Hope Housing Corporation

Analysis

Long Beach Hope Housing Corporation is a registered charity in United States, based in Torrance, CA. It received its IRS tax-exemption ruling in March 2002, 24 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, Long Beach Hope Housing Corporation reported income of $67k and spending of $102k, spending 152% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income fell from $68k to $67k (-1.0%), an average of -0.3% a year. Over the whole period it spent 145% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Long Beach Hope Housing Corporation sits at the 15th percentile: it is larger than about 15% of them. Against every charity in United States with reported income it ranks in the 27th percentile, and in the 29th percentile within CA. Charities of a similar size with the same main cause include Oldetowne Homes Inc ($67k), Main Ferry Housing Development Fund Company Inc ($68k) and Shepard Apartments Inc ($67k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 27% and program service revenue 73% of the total. At year end it held assets of $422k against liabilities of $616k, net assets of -$194k.

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.