First Home Alliance Inc

Analysis

First Home Alliance Inc is a registered charity in United States, based in Falls Church, VA. It received its IRS tax-exemption ruling in June 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, First Home Alliance Inc reported income of $852k and spending of $913k, spending 107% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $237k to $852k (+260%), an average of +38% a year. The sharpest change came in the year to December 2020, when income rose by 105%. Over the whole period it spent 109% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, First Home Alliance Inc sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 78th percentile within VA. Charities of a similar size with the same main cause include Saint Jeanne Jugan Village I ($852k), Freedom Fighting Missionaries Inc ($852k) and Non Profit Rental Housing Corporation ($852k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $445k. At year end it held assets of $68k against liabilities of $176k, net assets of -$108k. It reported 8 employees.

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.