Homestead Resources

Analysis

Homestead Resources is a registered charity in United States, based in Lafayette, IN. It received its IRS tax-exemption ruling in April 1983, 43 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 December 2023, Homestead Resources reported income of $660k and spending of $785k, spending 119% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $399k to $660k (+65%), an average of +13% a year. The sharpest change came in the year to December 2021, when income rose by 210%. Over the whole period it spent 92% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Homestead Resources sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 74th percentile within IN. Charities of a similar size with the same main cause include Homes for Families Inc ($660k), Elder Care One Inc ($660k) and Housing Partnership ($659k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 84% and program service revenue 13% of the total. Compensation of current officers, directors and key employees was $103k (13% of expenses). Other salaries and wages came to $347k. At year end it held assets of $3.6m against liabilities of $571k, net assets of $3.1m. It reported 15 employees.