Housing Resources Inc

Analysis

Housing Resources Inc is a registered charity in United States, based in Kalamazoo, MI. It received its IRS tax-exemption ruling in October 1983, 43 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 December 2023, Housing Resources Inc reported income of $4.1m and spending of $4.6m, spending 114% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.5m to $4.1m (+15%), an average of +3.6% a year. The sharpest change came in the year to December 2021, when income rose by 396%. Over the whole period it spent 100% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Housing Resources Inc sits at the 91st percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 91st percentile within MI. Charities of a similar size with the same main cause include San Diego Interfaith Housing Foundation ($4.1m), Winding Trails Inc ($4.1m) and Futuro Infantil Hispano ($4.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 101% and program service revenue 4.7% of the total. Compensation of current officers, directors and key employees was $117k (2.5% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $8.1m against liabilities of $1.1m, net assets of $7.0m. It reported 53 employees.