Midwest Housing Equity Group Inc

Analysis

Midwest Housing Equity Group Inc is a registered charity in United States, based in Omaha, NE. It received its IRS tax-exemption ruling in November 1993, 33 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 2023, Midwest Housing Equity Group Inc reported income of $19.2m and spending of $14.1m, leaving 27% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $12.9m to $19.2m (+49%), an average of +10% a year. The sharpest change came in the year to December 2021, when income rose by 16%. Over the whole period it spent 73% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Midwest Housing Equity Group Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within NE. Charities of a similar size with the same main cause include Council for the Homeless ($19.1m), Rhg-Afforable Housing II Inc ($19.2m) and Charities Housing Development Corp of Santa Clara County ($19.1m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 95% of the total. Compensation of current officers, directors and key employees was $4.3m (30% of expenses). Other salaries and wages came to $4.8m. At year end it held assets of $70.7m against liabilities of $5.2m, net assets of $65.4m. It reported 54 employees.