Community Housing Initiative Inc

Analysis

Community Housing Initiative Inc is a registered charity in United States, based in Melbourne, FL. It received its IRS tax-exemption ruling in July 1993, 33 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 June 2024, Community Housing Initiative Inc reported income of $2.4m and spending of $2.3m, spending 93% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $892k to $2.4m (+174%), an average of +29% a year. The sharpest change came in the year to June 2023, when income rose by 81%. Over the whole period it spent 99% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Community Housing Initiative Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 89th percentile within FL. Charities of a similar size with the same main cause include South Eastern Development Foundation ($2.4m), Mothers for Justice and Equality Inc ($2.4m) and Serving Hands Community Development Corporation ($2.4m).

On its Form 990 for the period ending June 2024, revenue came from program service revenue 84% of the total. Compensation of current officers, directors and key employees was $122k (5.3% of expenses). Other salaries and wages came to $154k. At year end it held assets of $4.9m against liabilities of $5.6m, net assets of -$696k. It reported 5 employees.