Housing Now-Flaget Inc

Analysis

Housing Now-Flaget Inc is a registered charity in United States, based in Germantown, TN. It received its IRS tax-exemption ruling in April 1989, 37 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 December 2023, Housing Now-Flaget Inc reported income of $1.1m and spending of $996k, spending 92% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $977k to $1.1m (+11%), an average of +2.6% a year. Over the whole period it spent 90% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Housing Now-Flaget Inc sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 82nd percentile within TN. Charities of a similar size with the same main cause include Newport Millennium Housing Corporation III ($1.1m), Ofarrell Senior Housing Inc ($1.1m) and FH Homes Housing Development Fund Corporation ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 8.7% and program service revenue 91% of the total. Other salaries and wages came to $54k. At year end it held assets of $1.5m against liabilities of $2.2m, net assets of -$685k. It reported 2 employees.