Homeward Bound Inc

Analysis

Homeward Bound Inc is a registered charity in United States, based in Plymouth, MN. It received its IRS tax-exemption ruling in December 1973, 53 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Homeward Bound Inc reported income of $19.1m and spending of $20.0m, spending 105% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $16.0m to $19.1m (+19%), an average of +4.5% a year. The sharpest change came in the year to December 2021, when income rose by 19%. 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, Homeward Bound Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within MN. Charities of a similar size with the same main cause include Florida Food Force Inc ($19.1m), Agena ($19.1m) and Arbor Hospice Inc ($19.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.3% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $206k (1.0% of expenses). Other salaries and wages came to $13.9m. At year end it held assets of $11.8m against liabilities of $6.7m, net assets of $5.1m. It reported 390 employees.