Homeworthy

Analysis

Homeworthy is a registered charity in United States, based in Rockland, ME. It received its IRS tax-exemption ruling in July 2014, 12 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 December 2023, Homeworthy reported income of $5.7m and spending of $5.0m, spending 87% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.2m to $5.7m (+160%), an average of +27% a year. The sharpest change came in the year to December 2020, when income rose by 73%. Over the whole period it spent 88% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Homeworthy sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 92nd percentile within ME. Charities of a similar size with the same main cause include Neads Inc ($5.7m), Urban League of Greater Miami Inc ($5.7m) and Bath Area Family YMCA ($5.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 84% and program service revenue 15% of the total. Compensation of current officers, directors and key employees was $195k (3.9% of expenses). Other salaries and wages came to $3.0m. It paid $2,678 in professional fundraising fees. At year end it held assets of $4.2m against liabilities of $1.1m, net assets of $3.0m. It reported 88 employees.