Housing Oriented Ministries Established for Services Inc

Analysis

Housing Oriented Ministries Established for Services Inc is a registered charity in United States, based in Whitesburg, KY. It received its IRS tax-exemption ruling in September 1985, 41 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Housing Oriented Ministries Established for Services Inc reported income of $4.1m and spending of $2.8m, leaving 32% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income grew from $1.4m to $4.1m (+193%), an average of +43% a year. The sharpest change came in the year to June 2023, when income rose by 117%. Over the whole period it spent 85% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Housing Oriented Ministries Established for Services Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 91st percentile within KY. Charities of a similar size with the same main cause include Homespace Corporation ($4.1m), Lewinsville Retirement Residence ($4.1m) and JL Young Apartments ($4.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 71% and program service revenue 12% of the total. Other salaries and wages came to $464k. At year end it held assets of $6.2m against liabilities of $1.8m, net assets of $4.3m. It reported 28 employees.