North Homes Inc

Analysis

North Homes Inc is a registered charity in United States, based in Grand Rapids, MN. It received its IRS tax-exemption ruling in June 1991, 35 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, North Homes Inc reported income of $23.7m and spending of $25.0m, spending 106% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $19.1m to $23.7m (+24%), an average of +5.5% a year. Over the whole period it spent 98% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, North Homes 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 98th percentile within MN. Charities of a similar size with the same main cause include Augustana Chapel View Homes Inc ($23.7m), Internet Archive ($23.7m) and Sacramento Childrens Home ($23.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 17% and program service revenue 81% of the total. Compensation of current officers, directors and key employees was $805k (3.2% of expenses). Other salaries and wages came to $14.9m. At year end it held assets of $19.2m against liabilities of $5.7m, net assets of $13.5m. It reported 423 employees.