Homeless Coalition of Polk Co Inc

Analysis

Homeless Coalition of Polk Co Inc is a registered charity in United States, based in Lakeland, FL. It received its IRS tax-exemption ruling in May 1994, 32 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Homeless Coalition of Polk Co Inc reported income of $1.8m and spending of $948k, leaving 47% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $877k to $1.8m (+103%), an average of +19% a year. The sharpest change came in the year to December 2023, when income rose by 98%. Over the whole period it spent 95% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Homeless Coalition of Polk Co Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 87th percentile within FL. Charities of a similar size with the same main cause include Spencer County Emergency Ambulance Service Inc ($1.8m), Sports World Ministries Incorporated ($1.8m) and Beatitude House ($1.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $80k (8.4% of expenses). Other salaries and wages came to $175k. At year end it held assets of $1.8m against liabilities of $0, net assets of $1.8m. It reported 13 employees.