Independence Square RHF Housing Inc

Analysis

Independence Square RHF Housing Inc is a registered charity in United States, based in Long Beach, CA. It received its IRS tax-exemption ruling in November 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 September 2023, Independence Square RHF Housing Inc reported income of $1.3m and spending of $1.4m, spending 105% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $1.2m to $1.3m (+8.8%), an average of +2.1% a year. The sharpest change came in the year to September 2023, when income rose by 26%. Over the whole period it spent 112% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Independence Square RHF Housing Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 83rd percentile within CA. Charities of a similar size with the same main cause include Westminster Senior Apartments of San Diego Inc ($1.3m), Turning Point Community Services ($1.3m) and Homes 4 Homes ($1.3m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 69% and program service revenue 29% of the total. At year end it held assets of $6.7m against liabilities of $7.0m, net assets of -$223k.

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.