Norwalk Mutual Housing Inc

Analysis

Norwalk Mutual Housing Inc is a registered charity in United States, based in Norwalk, CT. It received its IRS tax-exemption ruling in November 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Norwalk Mutual Housing Inc reported income of $776k and spending of $241k, leaving 69% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $136k to $776k (+472%), an average of +55% a year. The sharpest change came in the year to December 2023, when income rose by 351%. Over the whole period it spent 70% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Norwalk Mutual Housing Inc sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 75th percentile within CT. Charities of a similar size with the same main cause include Korner Homes Inc ($776k), Faith Presbyterian Village Inc ($776k) and Zelies Home ($775k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 77% and program service revenue 23% of the total. At year end it held assets of $1.9m against liabilities of $381k, net assets of $1.5m.