Homestead Soup Kitchen Inc

Analysis

Homestead Soup Kitchen Inc is a registered charity in United States, based in Homestead, FL. It received its IRS tax-exemption ruling in May 1984, 42 years ago. 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, Homestead Soup Kitchen Inc reported income of $90k and spending of $101k, spending 112% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $30k to $90k (+201%), an average of +32% a year. The sharpest change came in the year to December 2020, when income rose by 837%. Over the whole period it spent 69% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Homestead Soup Kitchen Inc sits at the 34th percentile: it is larger than about 34% of them. Against every charity in United States with reported income it ranks in the 34th percentile, and in the 38th percentile within FL. Charities of a similar size with the same main cause include Maryland Assessment Group Inc ($90k), Grace United Methodist Foundation Inc ($90k) and Eldred Township Volunteer Fire Co ($90k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% of the total. At year end it held assets of $342k against liabilities of $0, net assets of $342k.

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.