Preservation of Affordable Housing Inc

Analysis

Preservation of Affordable Housing Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in January 1999, 27 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, Preservation of Affordable Housing Inc reported income of $145.5m and spending of $112.7m, leaving 23% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $78.3m to $145.5m (+86%), an average of +17% a year. The sharpest change came in the year to December 2021, when income rose by 125%. Over the whole period it spent 75% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Preservation of Affordable Housing Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within MA. Charities of a similar size with the same main cause include Abode Services ($126.4m), Westhab Inc ($151.3m) and H E L P USA Inc ($122.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 18% and program service revenue 70% of the total. Compensation of current officers, directors and key employees was $2.3m (2.1% of expenses). Other salaries and wages came to $41.1m. At year end it held assets of $870.2m against liabilities of $528.4m, net assets of $341.9m. It reported 733 employees.