Homeless Action Network of Detroit

Analysis

Homeless Action Network of Detroit is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in September 1997, 29 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Homeless Action Network of Detroit reported income of $109.6m and spending of $109.9m, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $970k to $109.6m (+11202%), an average of +226% a year. The sharpest change came in the year to June 2021, when income rose by 1378%. Over the whole period it spent 100% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Homeless Action Network of Detroit sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within MI. Charities of a similar size with the same main cause include Springwell Inc ($109.4m), El Centro Del Barrio Inc ($109.6m) and Advance Care Alliance of Ny Inc ($108.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% and program service revenue 0.0% of the total. Compensation of current officers, directors and key employees was $93k (0.1% of expenses). At year end it held assets of $32.6m against liabilities of $31.2m, net assets of $1.5m.