Middletown Homes Inc

Analysis

Middletown Homes Inc is a registered charity in United States, based in Hamilton, NJ. It received its IRS tax-exemption ruling in November 2012, 14 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Middletown Homes Inc reported income of $78k and spending of $98k, spending 124% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $68k to $78k (+16%), an average of +3.8% a year. The sharpest change came in the year to June 2020, when income rose by 85%. Over the whole period it spent 122% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Middletown Homes Inc sits at the 17th percentile: it is larger than about 17% of them. Against every charity in United States with reported income it ranks in the 30th percentile, and in the 38th percentile within NJ. Charities of a similar size with the same main cause include Exodus Ministries ($78k), Affordable Community Housing Inc ($78k) and Perrperry Lake Nonprofit Housing ($78k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 57% and program service revenue 43% of the total. Other salaries and wages came to $12k. At year end it held assets of $1.7m against liabilities of $1.4m, net assets of $337k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.