Faith Housing New Hope Apartments

Analysis

Faith Housing New Hope Apartments is a registered charity in United States, based in Glendale, CA. It received its IRS tax-exemption ruling in May 2000, 26 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 June 2023, Faith Housing New Hope Apartments reported income of $310k and spending of $488k, spending 157% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $316k to $310k (-1.9%), an average of -0.5% a year. The sharpest change came in the year to June 2022, when income rose by 57%. Over the whole period it spent 132% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Faith Housing New Hope Apartments sits at the 47th percentile: it is larger than about 47% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 64th percentile within CA. Charities of a similar size with the same main cause include East Liberty Supportive Housing Inc ($310k), River Grove Retirement Community Inc ($310k) and Urban Impact of Black Rock Incorporated ($310k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 75% and program service revenue 24% of the total. At year end it held assets of $2.8m against liabilities of $5.5m, net assets of -$2.7m.