Grand Forks Homes Inc

Analysis

Grand Forks Homes Inc is a registered charity in United States, based in Grand Forks, ND. It received its IRS tax-exemption ruling in August 1976, 50 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, Grand Forks Homes Inc reported income of $4.3m and spending of $4.9m, spending 115% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income grew from $3.3m to $4.3m (+29%), an average of +8.8% a year. The sharpest change came in the year to December 2020, when income rose by 35%. Over the whole period it spent 107% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Grand Forks Homes Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 90th percentile within ND. Charities of a similar size with the same main cause include Community Asset Preservation Corporation ($4.3m), Habitat for Humanity International Inc ($4.3m) and Christ Church Harbor Apt Inc ($4.3m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 61% and program service revenue 38% of the total. At year end it held assets of $14.4m against liabilities of $13.9m, net assets of $497k.