Korner Homes Inc

Analysis

Korner Homes Inc is a registered charity in United States, based in Winstonsalem, NC. It received its IRS tax-exemption ruling in May 1980, 46 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 (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, Korner Homes Inc reported income of $776k and spending of $686k, spending 88% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $696k to $776k (+11%), an average of +2.7% a year. Over the whole period it spent 94% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Korner Homes Inc sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 76th percentile within NC. Charities of a similar size with the same main cause include Zelies Home ($775k), Norwalk Mutual Housing Inc ($776k) and Manhattan Area Housing Partnership Inc ($774k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 67% and program service revenue 32% of the total. At year end it held assets of $1.4m against liabilities of $2.2m, net assets of -$760k.