Homes for Life Foundation

Analysis

Homes for Life Foundation is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in June 1992, 34 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 December 2023, Homes for Life Foundation reported income of $7.5m and spending of $7.9m, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $6.3m to $7.5m (+20%), an average of +4.7% a year. Over the whole period it spent 105% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Homes for Life Foundation sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within CA. Charities of a similar size with the same main cause include Sunrise 2000 Ins ($7.5m), Combined Community Action Incorporated ($7.5m) and Parkview Services ($7.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 86% and program service revenue 15% of the total. Compensation of current officers, directors and key employees was $138k (1.8% of expenses). Other salaries and wages came to $3.2m. At year end it held assets of $10.5m against liabilities of $21.5m, net assets of -$11.0m. It reported 67 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.