National Faith Homebuyers

Analysis

National Faith Homebuyers is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in January 1999, 27 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, National Faith Homebuyers reported income of $1.7m and spending of $1.4m, spending 83% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $661k to $1.7m (+158%), an average of +27% a year. The sharpest change came in the year to June 2023, when income rose by 114%. Over the whole period it spent 80% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, National Faith Homebuyers sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 85th percentile within MI. Charities of a similar size with the same main cause include Clay County Habitat for Humanity Inc ($1.7m), True Purpose Ministries ($1.7m) and Boothbay Regional Development Corporation ($1.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 74% and program service revenue 26% of the total. At year end it held assets of $7.1m against liabilities of $4.0m, net assets of $3.1m.