Newburyport Affordable Housing Corporation

Analysis

Newburyport Affordable Housing Corporation is a registered charity in United States, based in Newburyport, MA. It received its IRS tax-exemption ruling in September 2021, 5 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 March 2023, Newburyport Affordable Housing Corporation reported income of $141k and spending of $151k, spending 107% of what it took in. Across the 4 years on record, from March 2019 to March 2023, income grew from $105k to $141k (+34%), an average of +10% a year. The sharpest change came in the year to March 2022, when income rose by 17%. Over the whole period it spent 121% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Newburyport Affordable Housing Corporation sits at the 30th percentile: it is larger than about 30% of them. Against every charity in United States with reported income it ranks in the 46th percentile, and in the 51st percentile within MA. Charities of a similar size with the same main cause include Sierra Homes for Elderly Inc ($141k), Harold Court ($141k) and Veterans Offgrid Inc ($141k).

On its Form 990 for the period ending March 2023, revenue came from program service revenue 99% of the total. At year end it held assets of $2.0m against liabilities of $2.7m, net assets of -$694k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.