Albemarle Housing Improvement Program Inc

Analysis

Albemarle Housing Improvement Program Inc is a registered charity in United States, based in Charlottesville, VA. It received its IRS tax-exemption ruling in March 1997, 29 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 June 2023, Albemarle Housing Improvement Program Inc reported income of $3.0m and spending of $2.0m, leaving 34% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income fell from $3.2m to $3.0m (-5.5%), an average of -1.4% a year. The sharpest change came in the year to June 2021, when income rose by 84%. Over the whole period it spent 73% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Albemarle Housing Improvement Program Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 90th percentile within VA. Charities of a similar size with the same main cause include Habitat for Humanity International Inc ($3.0m), Oregon Energy Fund ($3.0m) and Satellite Senior Homes II Inc ($3.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 96% and program service revenue 2.1% of the total. Compensation of current officers, directors and key employees was $218k (11% of expenses). Other salaries and wages came to $614k. At year end it held assets of $7.1m against liabilities of $193k, net assets of $6.9m. It reported 18 employees.