House of Hope Housing Inc

Analysis

House of Hope Housing Inc is a registered charity in United States, based in Lowell, MA. It received its IRS tax-exemption ruling in October 2005, 21 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 2024, House of Hope Housing Inc reported income of $1.0m and spending of $1.2m, spending 122% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income grew from $532k to $1.0m (+90%), an average of +14% a year. The sharpest change came in the year to June 2020, when income rose by 62%. Over the whole period it spent 119% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, House of Hope Housing Inc sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 79th percentile within MA. Charities of a similar size with the same main cause include 143 Ministries International Inc ($1.0m), Samaritan Village Inc ($1.0m) and St Vincent de Paul Gardens Inc ($1.0m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 7.2% and program service revenue 93% of the total. Compensation of current officers, directors and key employees was $166k (13% of expenses). Other salaries and wages came to $253k. At year end it held assets of $7.8m against liabilities of $8.9m, net assets of -$1.2m.

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.