Homestead Schools Inc

Analysis

Homestead Schools Inc is a registered charity in United States, based in Torrance, CA. It received its IRS tax-exemption ruling in June 1996, 30 years ago. Its declared purposes cover unknown, which this site groups under other charitable purposes. 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, Homestead Schools Inc reported income of $7.5m and spending of $4.8m, leaving 35% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $6.5m to $7.5m (+14%), an average of +3.4% a year. The sharpest change came in the year to December 2021, when income rose by 131%. Over the whole period it spent 78% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Homestead Schools Inc sits at the 94th percentile: it is larger than about 94% 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 Boom Health ($7.5m), Mount St Vincent Home Inc ($7.5m) and Habitat for Humanity International Inc ($7.4m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 61% of the total. Compensation of current officers, directors and key employees was $150k (3.1% of expenses). At year end it held assets of $16.2m against liabilities of $3.4m, net assets of $12.9m. It reported 37 employees.