Homestead Place

Analysis

Homestead Place is a registered charity in United States, based in Grand Forks, ND. It received its IRS tax-exemption ruling in April 2000, 26 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 December 2022, Homestead Place reported income of $433k and spending of $443k, spending 102% of its income. Across the 4 years on record, from December 2019 to December 2022, income grew from $411k to $433k (+5.4%), an average of +1.8% a year. Over the whole period it spent 96% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Homestead Place sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 64th percentile within ND. Charities of a similar size with the same main cause include National Housing and Health Care Trust Inc ($433k), Volunteers of America Inc ($433k) and Hogar de Envejecientes Irma Fe Pol Mendez ($433k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 66% and program service revenue 34% of the total. Other salaries and wages came to $82k. At year end it held assets of $1.7m against liabilities of $688k, net assets of $1.0m.