Momentum Housing

Analysis

Momentum Housing is a registered charity in United States, based in Omaha, NE. It received its IRS tax-exemption ruling in July 1995, 31 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 December 2023, Momentum Housing reported income of $72.6m and spending of $94.7m, spending 131% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.9m to $72.6m (+1761%), an average of +108% a year. The sharpest change came in the year to December 2020, when income rose by 202%. Over the whole period it spent 133% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Momentum Housing sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within NE. Charities of a similar size with the same main cause include Fox Run Village Inc ($71.6m), Wisconsin Housing Preservation Corp ($73.4m) and Allies Inc ($70.0m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 97% of the total. Compensation of current officers, directors and key employees was $1.7m (1.8% of expenses). Other salaries and wages came to $5.1m. At year end it held assets of $643.6m against liabilities of $703.5m, net assets of -$59.9m. It reported 5 employees.

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.