Ada Homes Inc

Analysis

Ada Homes Inc is a registered charity in United States, based in Southfield, MI. It received its IRS tax-exemption ruling in January 1994, 32 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 September 2023, Ada Homes Inc reported income of $674k and spending of $630k, spending 93% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $392k to $674k (+72%), an average of +14% a year. The sharpest change came in the year to September 2022, when income rose by 26%. Over the whole period it spent 95% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Ada Homes Inc sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 74th percentile within MI. Charities of a similar size with the same main cause include Catholic Housing Corporation of Schuylkill County ($674k), Abingdon Senior Housing Inc ($674k) and West Side CLT ($674k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $89k (14% of expenses). Other salaries and wages came to $338k. At year end it held assets of $539k against liabilities of $110k, net assets of $429k.