Homeward Bound of Marin

Analysis

Homeward Bound of Marin is a registered charity in United States, based in Novato, CA. It received its IRS tax-exemption ruling in January 1984, 42 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, Homeward Bound of Marin reported income of $22.6m and spending of $15.3m, leaving 32% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $9.8m to $22.6m (+131%), an average of +23% a year. The sharpest change came in the year to June 2020, when income rose by 50%. Over the whole period it spent 65% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Homeward Bound of Marin sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within CA. Charities of a similar size with the same main cause include Raymore Senior Care LLC ($22.6m), Coastal Enterprises Inc ($22.6m) and Chicago Low Income Housing Trust Fund ($22.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 89% and program service revenue 11% of the total. Compensation of current officers, directors and key employees was $498k (3.3% of expenses). Other salaries and wages came to $6.1m. At year end it held assets of $54.1m against liabilities of $9.2m, net assets of $44.8m. It reported 151 employees.