Raise-Op Housing Cooperative

Analysis

Raise-Op Housing Cooperative is a registered charity in United States, based in Lewiston, ME. It received its IRS tax-exemption ruling in December 2019, 7 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, Raise-Op Housing Cooperative reported income of $941k and spending of $306k, leaving 67% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $205k to $941k (+359%), an average of +46% a year. The sharpest change came in the year to December 2020, when income rose by 145%. Over the whole period it spent 40% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Raise-Op Housing Cooperative sits at the 71st percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 75th percentile within ME. Charities of a similar size with the same main cause include Tampa Bay Community Development Corporation ($941k), Frances Senior Housing Corporation ($944k) and Wesley Manor Retirement Community Inc ($940k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 4.2% and program service revenue 95% of the total. Other salaries and wages came to $88k. At year end it held assets of $2.8m against liabilities of $339k, net assets of $2.4m. It reported 2 employees.