Seven Homes Inc

Analysis

Seven Homes Inc is a registered charity in United States, based in Jamestown, NC. It received its IRS tax-exemption ruling in May 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Seven Homes Inc reported income of $4.1m and spending of $3.9m, spending 95% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.1m to $4.1m (+99%), an average of +19% a year. The sharpest change came in the year to December 2020, when income rose by 38%. Over the whole period it spent 92% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Seven Homes Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within NC. Charities of a similar size with the same main cause include Ysleta Lutheran Mission Human Care ($4.1m), North Fork Area Transit Inc ($4.1m) and On My Own Inc ($4.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 4.9% and program service revenue 93% of the total. Other salaries and wages came to $1.3m. At year end it held assets of $1.9m against liabilities of $442k, net assets of $1.5m. It reported 33 employees.