Neighborhood Housing Services of Duluth Inc

Analysis

Neighborhood Housing Services of Duluth Inc is a registered charity in United States, based in Duluth, MN. It received its IRS tax-exemption ruling in January 1985, 41 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Neighborhood Housing Services of Duluth Inc reported income of $702k and spending of $653k, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $646k to $702k (+8.8%), an average of +2.1% a year. The sharpest change came in the year to December 2020, when income rose by 96%. Over the whole period it spent 76% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Neighborhood Housing Services of Duluth Inc sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 74th percentile within MN. Charities of a similar size with the same main cause include Northern Liberties Bid ($702k), Crawford County Land Reutilization Corporation ($702k) and Downtown Shreveport Unlimited ($702k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 59% and program service revenue 40% of the total. Compensation of current officers, directors and key employees was $32k (4.9% of expenses). Other salaries and wages came to $293k. At year end it held assets of $6.7m against liabilities of $3.7m, net assets of $3.0m.