Renewal Housing Inc

Analysis

Renewal Housing Inc is a registered charity in United States, based in N Bethesda, MD. It received its IRS tax-exemption ruling in November 1996, 30 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 2021, Renewal Housing Inc reported income of $3.6m and spending of $39.5m, spending 1112% of what it took in. Across the 4 years on record, from December 2018 to December 2021, income fell from $18.1m to $3.6m (-80%), an average of -42% a year. The sharpest change came in the year to December 2020, when income rose by 1637%. Over the whole period it spent 128% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Renewal Housing Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 89th percentile within MD. Charities of a similar size with the same main cause include Residences at Wood Street ($3.5m), Housing America Corporation ($3.6m) and State Street Housing Preservation Corporation ($3.5m).

On its Form 990 for the period ending December 2021, revenue came from contributions and grants 94% and program service revenue 5.6% of the total. Other salaries and wages came to $61k. At year end it held assets of $14.6m against liabilities of $42.5m, net assets of -$28.0m.