Housing Opportunities of Northern Kentucky Inc

Analysis

Housing Opportunities of Northern Kentucky Inc is a registered charity in United States, based in Covington, KY. It received its IRS tax-exemption ruling in December 1992, 34 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, Housing Opportunities of Northern Kentucky Inc reported income of $649k and spending of $759k, spending 117% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $605k to $649k (+7.3%), an average of +1.8% a year. The sharpest change came in the year to December 2020, when income rose by 70%. Over the whole period it spent 83% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Housing Opportunities of Northern Kentucky Inc sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 75th percentile within KY. Charities of a similar size with the same main cause include Stella Maris Housing Development Corp ($649k), Recovery Trail Inc ($649k) and Christopher Homes of Arkansas Inc ($648k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% and program service revenue 6.9% of the total. Compensation of current officers, directors and key employees was $69k (9.1% of expenses). Other salaries and wages came to $120k. At year end it held assets of $4.7m against liabilities of $249k, net assets of $4.4m. It reported 10 employees.