Hiawatha Homes Inc

Analysis

Hiawatha Homes Inc is a registered charity in United States, based in Rochester, MN. It received its IRS tax-exemption ruling in January 1974, 52 years ago. 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 December 2023, Hiawatha Homes Inc reported income of $10.8m and spending of $10.8m, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $10.3m to $10.8m (+4.4%), an average of +1.1% a year. Over the whole period it spent 101% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Hiawatha Homes Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within MN. Charities of a similar size with the same main cause include Rose Brooks Center Inc ($10.8m), Auburn Manor ($10.8m) and Decro Corporation ($10.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 10% and program service revenue 89% of the total. Compensation of current officers, directors and key employees was $212k (2.0% of expenses). Other salaries and wages came to $6.9m. At year end it held assets of $1.8m against liabilities of $631k, net assets of $1.1m. It reported 395 employees.