Homes Are Possible Inc

Analysis

Homes Are Possible Inc is a registered charity in United States, based in Aberdeen, SD. It received its IRS tax-exemption ruling in April 2001, 25 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 September 2023, Homes Are Possible Inc reported income of $1.5m and spending of $779k, leaving 47% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income fell from $1.6m to $1.5m (-7.5%), an average of -1.9% a year. The sharpest change came in the year to September 2021, when income rose by 155%. Over the whole period it spent 53% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Homes Are Possible Inc sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 83rd percentile within SD. Charities of a similar size with the same main cause include Apropos-Housing Opportunities and Management Enterprises Inc ($1.5m), Volunteers of America Inc ($1.5m) and The Coalition of Florida Farmworker ($1.5m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 25% and program service revenue 0.3% of the total. Compensation of current officers, directors and key employees was $111k (14% of expenses). Other salaries and wages came to $152k. At year end it held assets of $7.4m against liabilities of $63k, net assets of $7.4m. It reported 7 employees.