Homefree USA Inc

Analysis

Homefree USA Inc is a registered charity in United States, based in Riverdale, MD. It received its IRS tax-exemption ruling in November 1994, 32 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Homefree USA Inc reported income of $17.2m and spending of $17.5m, spending 101% of its income. Across the 6 years on record, from December 2018 to December 2023, income grew from $5.9m to $17.2m (+192%), an average of +24% a year. The sharpest change came in the year to December 2020, when income rose by 135%. Over the whole period it spent 99% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Homefree USA Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 96th percentile within MD. Charities of a similar size with the same main cause include York County Community Foundation ($17.1m), United Way of Palm Beach County Inc ($17.2m) and United Way of Santa Barbara County Inc ($17.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 93% and program service revenue 6.7% of the total. Compensation of current officers, directors and key employees was $1.1m (6.6% of expenses). Other salaries and wages came to $2.6m. At year end it held assets of $4.6m against liabilities of $1.6m, net assets of $3.0m. It reported 52 employees.