Housing Opportunities & Maintenance for the Elderly Inc

Analysis

Housing Opportunities & Maintenance for the Elderly Inc is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in May 1982, 44 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 September 2023, Housing Opportunities & Maintenance for the Elderly Inc reported income of $2.3m and spending of $2.3m, spending 103% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $2.3m to $2.3m (+0.1%), an average of +0.0% a year. The sharpest change came in the year to September 2021, when income rose by 15%. Over the whole period it spent 97% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Housing Opportunities & Maintenance for the Elderly Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 87th percentile within IL. Charities of a similar size with the same main cause include PSC ($2.3m), Faith in Serving Humanity Inc ($2.3m) and Products That Count ($2.3m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 64% and program service revenue 33% of the total. Compensation of current officers, directors and key employees was $108k (4.6% of expenses). Other salaries and wages came to $899k. It paid $21k in professional fundraising fees. At year end it held assets of $6.5m against liabilities of $3.1m, net assets of $3.4m. It reported 28 employees.