New Home Development Co Inc

Analysis

New Home Development Co Inc is a registered charity in United States, based in Bryan, OH. It received its IRS tax-exemption ruling in November 1991, 35 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, New Home Development Co Inc reported income of $1.2m and spending of $817k, leaving 34% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $630k to $1.2m (+95%), an average of +18% a year. The sharpest change came in the year to June 2023, when income rose by 43%. Over the whole period it spent 82% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, New Home Development Co Inc sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 82nd percentile within OH. Charities of a similar size with the same main cause include Beacon Housing Inc ($1.2m), Pure Hope Foundation ($1.2m) and Good Samaritan Ministries Inc ($1.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 32% and program service revenue 57% of the total. Compensation of current officers, directors and key employees was $100k (12% of expenses). Other salaries and wages came to $350k. At year end it held assets of $3.0m against liabilities of $886k, net assets of $2.1m. It reported 24 employees.