Hammer Residences Inc

Analysis

Hammer Residences Inc is a registered charity in United States, based in Wayzata, MN. It received its IRS tax-exemption ruling in February 1962, 64 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Hammer Residences Inc reported income of $42.2m and spending of $43.1m, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $28.1m to $42.2m (+50%), an average of +11% a year. The sharpest change came in the year to December 2023, when income rose by 27%. Over the whole period it spent 96% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hammer Residences Inc sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within MN. Charities of a similar size with the same main cause include Waterman Communities Inc ($42.1m), Cornerstone Service Inc ($42.3m) and Community Residences Inc ($42.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 4.7% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $463k (1.1% of expenses). Other salaries and wages came to $26.9m. At year end it held assets of $35.6m against liabilities of $8.4m, net assets of $27.2m. It reported 712 employees.