Housing Assistance Corporation

Analysis

Housing Assistance Corporation is a registered charity in United States, based in Hendersonvlle, NC. It received its IRS tax-exemption ruling in April 1989, 37 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 December 2022, Housing Assistance Corporation reported income of $2.8m and spending of $2.2m, leaving 22% of income unspent that year. Across the 4 years on record, from December 2019 to December 2022, income grew from $947k to $2.8m (+193%), an average of +43% a year. The sharpest change came in the year to December 2020, when income rose by 106%. 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, Housing Assistance Corporation sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 90th percentile within NC. Charities of a similar size with the same main cause include Jackson Street Youth Shelter Inc ($2.8m), Valley Residential Services Inc ($2.8m) and Foundation for Norfolk Living ($2.8m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 64% and program service revenue 22% of the total. Other salaries and wages came to $735k. At year end it held assets of $7.7m against liabilities of $2.5m, net assets of $5.2m. It reported 18 employees.