Adam and Bruce Housing Corporation

Analysis

Adam and Bruce Housing Corporation is a registered charity in United States, based in Long Beach, CA. It received its IRS tax-exemption ruling in September 1985, 41 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 February 2024, Adam and Bruce Housing Corporation reported income of $378k and spending of $491k, spending 130% of what it took in. Across the 5 years on record, from February 2020 to February 2024, income grew from $360k to $378k (+5.1%), an average of +1.2% a year. The sharpest change came in the year to February 2024, when income rose by 59%. Over the whole period it spent 146% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Adam and Bruce Housing Corporation sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 68th percentile within CA. Charities of a similar size with the same main cause include Montello Welcome Home Again Inc ($378k), Woodrow Wilson Gardens Inc ($378k) and Williamsburg Area Improved Dwellings Inc ($378k).

On its Form 990 for the period ending February 2024, revenue came from contributions and grants 67% and program service revenue 32% of the total. At year end it held assets of $1.2m against liabilities of $2.4m, net assets of -$1.2m.

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.