Norwood Avenue Housing Corporation

Analysis

Norwood Avenue Housing Corporation is a registered charity in United States, based in Sacramento, CA. It received its IRS tax-exemption ruling in August 1992, 34 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Norwood Avenue Housing Corporation reported income of $6.6m and spending of $7.7m, spending 116% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.1m to $6.6m (+113%), an average of +21% a year. The sharpest change came in the year to December 2022, when income rose by 384%. Over the whole period it spent 91% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Norwood Avenue Housing Corporation sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 94th percentile within CA. Charities of a similar size with the same main cause include Apostolic Christian Home of Roanoke Illinois Inc ($6.6m), Southeastern Minnesota Area Agency on Aging Inc ($6.6m) and Summit Independent Living Center ($6.6m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $320k. At year end it held assets of $46.3m against liabilities of $42.7m, net assets of $3.6m.