Fairhaven Homes Inc

Analysis

Fairhaven Homes Inc is a registered charity in United States, based in Hagerstown, MD. It received its IRS tax-exemption ruling in September 2018, 8 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2024, Fairhaven Homes Inc reported income of $59k and spending of $34k, leaving 42% of income unspent that year. Across the 2 years on record, from August 2023 to August 2024, income grew from $47k to $59k (+27%), an average of +26% a year. The sharpest change came in the year to August 2024, when income rose by 27%. 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, Fairhaven Homes Inc sits at the 13th percentile: it is larger than about 13% of them. Against every charity in United States with reported income it ranks in the 23rd percentile, and in the 25th percentile within MD. Charities of a similar size with the same main cause include Urban Link Avodah ($59k), Ida Community Development Corp Inc ($59k) and Appalachian Affordable Housing ($59k).

On its Form 990-EZ for the period ending August 2024, revenue came from program service revenue 65% of the total. At year end it held assets of $457k against liabilities of $401k, net assets of $57k.