Homeownership Preservation Foundation

Analysis

Homeownership Preservation Foundation is a registered charity in United States, based in Farmingtn HLS, MI. It received its IRS tax-exemption ruling in August 2004, 22 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Homeownership Preservation Foundation reported income of $14.1m and spending of $13.7m, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $7.2m to $14.1m (+97%), an average of +18% a year. The sharpest change came in the year to December 2022, when income rose by 42%. Over the whole period it spent 94% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Homeownership Preservation Foundation sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within MI. Charities of a similar size with the same main cause include Kids Meals Inc ($14.0m), Hospice of El Paso Inc ($14.1m) and Seniors First Inc ($14.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.9% and program service revenue 97% of the total. Other salaries and wages came to $1.2m. At year end it held assets of $11.0m against liabilities of $2.1m, net assets of $8.9m.