Noahs Ark-Affordable Housing Inc

Analysis

Noahs Ark-Affordable Housing Inc is a registered charity in United States, based in Roseville, MN. It received its IRS tax-exemption ruling in September 1994, 32 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 September 2023, Noahs Ark-Affordable Housing Inc reported income of $1.9m and spending of $1.5m, leaving 22% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $1.6m to $1.9m (+19%), an average of +4.5% a year. The sharpest change came in the year to September 2023, when income rose by 18%. Over the whole period it spent 91% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Noahs Ark-Affordable Housing Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 85th percentile within MN. Charities of a similar size with the same main cause include Victory One Housing Development Fund Corporation ($1.9m), Winchester Retirement Place Inc ($1.9m) and Pregnancy Assistance Center North Inc ($1.9m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 0.4% and program service revenue 96% of the total. Other salaries and wages came to $219k. At year end it held assets of $7.6m against liabilities of $3.9m, net assets of $3.7m.