Alpha Project for the Homeless

Analysis

Alpha Project for the Homeless is a registered charity in United States, based in San Diego, CA. It received its IRS tax-exemption ruling in May 1994, 32 years ago. 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, Alpha Project for the Homeless reported income of $41.4m and spending of $35.7m, spending 86% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $19.6m to $41.4m (+111%), an average of +21% a year. The sharpest change came in the year to June 2020, when income rose by 50%. Over the whole period it spent 88% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Alpha Project for the Homeless sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within CA. Charities of a similar size with the same main cause include Lyngblomsten Care Center Inc ($41.4m), Genesis Health Development Inc ($41.4m) and Hunger Task Force Inc ($41.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 80% and program service revenue 11% of the total. Compensation of current officers, directors and key employees was $749k (2.1% of expenses). Other salaries and wages came to $15.9m. At year end it held assets of $25.5m against liabilities of $3.0m, net assets of $22.5m. It reported 426 employees.