Homeownership Center Inc

Analysis

Homeownership Center Inc is a registered charity in United States, based in Elkins, WV. It received its IRS tax-exemption ruling in September 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 September 2023, Homeownership Center Inc reported income of $417k and spending of $400k, spending 96% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $303k to $417k (+38%), an average of +8.3% a year. The sharpest change came in the year to September 2020, when income rose by 40%. Over the whole period it spent 76% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Homeownership Center Inc sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 65th percentile within WV. Charities of a similar size with the same main cause include Safe Place Inc ($417k), 1 Hope Foundation Inc ($417k) and Statewide Independent Living Council ($417k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 71% and program service revenue 20% of the total. Compensation of current officers, directors and key employees was $35k (8.8% of expenses). Other salaries and wages came to $174k. At year end it held assets of $2.1m against liabilities of $68k, net assets of $2.0m. It reported 6 employees.