Homestead Residences Inc

Analysis

Homestead Residences Inc is a registered charity in United States, based in Ann Arbor, MI. It received its IRS tax-exemption ruling in June 2006, 20 years ago. Its declared purposes cover mental health and crisis intervention, which this site groups under health and saving lives. 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, Homestead Residences Inc reported income of $743k and spending of $898k, spending 121% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $786k to $743k (-5.5%), an average of -1.4% a year. The sharpest change came in the year to September 2022, when income rose by 37%. Over the whole period it spent 104% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Homestead Residences Inc sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 76th percentile within MI. Charities of a similar size with the same main cause include New Mexico Farm and Livestock Bureau Foundation Inc ($743k), Carlsbad Community Anti Drug Gang Coalition Inc ($743k) and Pathway to Hope Inc ($743k).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $657k. At year end it held assets of $164k against liabilities of $0, net assets of $164k. It reported 35 employees.