Foresight Affordable Housing Inc

Analysis

Foresight Affordable Housing Inc is a registered charity in United States, based in Egg Harbor Township, NJ. It received its IRS tax-exemption ruling in October 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Foresight Affordable Housing Inc reported income of $19.9m and spending of $26.1m, spending 131% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.4m to $19.9m (+356%), an average of +46% a year. The sharpest change came in the year to December 2023, when income rose by 437%. Over the whole period it spent 107% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Foresight Affordable Housing Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within NJ. Charities of a similar size with the same main cause include Hubbard Hill Estates Inc ($19.9m), Fort Worth Area Habitat for Humanity Inc ($19.9m) and Linc Housing Corporation ($19.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 11% and program service revenue 83% of the total. Compensation of current officers, directors and key employees was $531k (2.0% of expenses). Other salaries and wages came to $2.3m. At year end it held assets of $249.8m against liabilities of $232.7m, net assets of $17.1m. It reported 10 employees.