Welcome House of Northern Kentucky Inc

Analysis

Welcome House of Northern Kentucky Inc is a registered charity in United States, based in Covington, KY. It received its IRS tax-exemption ruling in September 1983, 43 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 2023, Welcome House of Northern Kentucky Inc reported income of $6.4m and spending of $6.5m, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.2m to $6.4m (+53%), an average of +11% a year. The sharpest change came in the year to December 2020, when income rose by 86%. Over the whole period it spent 80% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Welcome House of Northern Kentucky Inc sits at the 93rd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within KY. Charities of a similar size with the same main cause include Paving the Way Foundation ($6.4m), Homeownership Affordability Trust Fund ($6.4m) and Concourse House Housing Development Fund Company Inc ($6.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 93% and program service revenue 0.9% of the total. Compensation of current officers, directors and key employees was $241k (3.7% of expenses). Other salaries and wages came to $2.8m. At year end it held assets of $13.8m against liabilities of $1.0m, net assets of $12.8m. It reported 85 employees.