Housing Opportunities Mortgage Assistance & Effective Neighborhoo

Analysis

Housing Opportunities Mortgage Assistance & Effective Neighborhoo is a registered charity in United States, based in Ft Lauderdale, FL. It received its IRS tax-exemption ruling in February 1999, 27 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 June 2023, Housing Opportunities Mortgage Assistance & Effective Neighborhoo reported income of $1.6m and spending of $1.6m, spending 101% of its income. Across the 5 years on record, from September 2019 to June 2023, income grew from $1.2m to $1.6m (+36%), an average of +7.9% a year. The sharpest change came in the year to June 2023, when income rose by 80%. Over the whole period it spent 105% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Housing Opportunities Mortgage Assistance & Effective Neighborhoo sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 86th percentile within FL. Charities of a similar size with the same main cause include Community Homes of Lebanon County Inc ($1.6m), American Lutheran Community Services Inc ($1.6m) and Glad Tidings Community Development Corporation ($1.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 77% and program service revenue 23% of the total. Compensation of current officers, directors and key employees was $195k (12% of expenses). Other salaries and wages came to $363k. At year end it held assets of $9.8m against liabilities of $3.3m, net assets of $6.5m. It reported 35 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.