Homestretch Inc

Analysis

Homestretch Inc is a registered charity in United States, based in Falls Church, VA. It received its IRS tax-exemption ruling in July 1998, 28 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 June 2023, Homestretch Inc reported income of $4.5m and spending of $3.5m, leaving 22% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income grew from $3.5m to $4.5m (+28%), an average of +8.6% a year. The sharpest change came in the year to June 2023, when income rose by 24%. Over the whole period it spent 86% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Homestretch Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within VA. Charities of a similar size with the same main cause include Opportunities and Resources Inc ($4.5m), Rolling Hills Progress Center Inc ($4.5m) and Amber Way-Wyndham West ($4.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 85% and program service revenue 13% of the total. Compensation of current officers, directors and key employees was $171k (4.8% of expenses). Other salaries and wages came to $1.3m. At year end it held assets of $9.3m against liabilities of $6.3m, net assets of $3.0m. It reported 27 employees.