Hollenbeck Palms

Analysis

Hollenbeck Palms is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in April 2002, 24 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 June 2023, Hollenbeck Palms reported income of $25.0m and spending of $23.7m, spending 95% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $17.2m to $25.0m (+46%), an average of +9.8% a year. The sharpest change came in the year to June 2021, when income rose by 22%. Over the whole period it spent 96% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Hollenbeck Palms 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 98th percentile, and in the 98th percentile within CA. Charities of a similar size with the same main cause include Lasell Village Inc ($24.9m), RTH Mission Park Realty Corporation ($25.1m) and Federation of Appalachian Housing Enterprises Inc ($24.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 15% and program service revenue 68% of the total. Compensation of current officers, directors and key employees was $726k (3.1% of expenses). Other salaries and wages came to $8.6m. At year end it held assets of $87.8m against liabilities of $41.4m, net assets of $46.4m. It reported 235 employees.