Heritage Homes Inc

Analysis

Heritage Homes Inc is a registered charity in United States, based in Holland, MI. It received its IRS tax-exemption ruling in September 1978, 48 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 September 2023, Heritage Homes Inc reported income of $4.6m and spending of $4.3m, spending 94% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $3.1m to $4.6m (+47%), an average of +10% a year. The sharpest change came in the year to September 2021, when income rose by 41%. Over the whole period it spent 97% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Heritage Homes Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 92nd percentile within MI. Charities of a similar size with the same main cause include Elevate Youth Services Incorporated ($4.6m), Tri-County Center for Independent Living ($4.6m) and Lee Carlson Center for Mental Health and Well-Being ($4.6m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 93% and program service revenue 7.3% of the total. Compensation of current officers, directors and key employees was $203k (4.7% of expenses). Other salaries and wages came to $2.7m. At year end it held assets of $3.5m against liabilities of $440k, net assets of $3.0m. It reported 157 employees.