Housing Preservation Inc

Analysis

Housing Preservation Inc is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in February 2004, 22 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 December 2023, Housing Preservation Inc reported income of $7.7m and spending of $8.8m, spending 114% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $33.1m to $7.7m (-77%), an average of -31% a year. The sharpest change came in the year to December 2023, when income rose by 161%. Over the whole period it spent 60% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Housing Preservation Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within TN. Charities of a similar size with the same main cause include Slough Farm Foundation ($7.7m), Pedia Manor Inc ($7.7m) and Fairbanks Community Food Bank Service Inc ($7.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 5.2% and program service revenue 86% of the total. Compensation of current officers, directors and key employees was $380k (4.3% of expenses). Other salaries and wages came to $1.8m. At year end it held assets of $40.9m against liabilities of $13.8m, net assets of $27.1m. It reported 16 employees.

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.