Homeword Inc

Analysis

Homeword Inc is a registered charity in United States, based in Missoula, MT. It received its IRS tax-exemption ruling in January 2000, 26 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, Homeword Inc reported income of $8.6m and spending of $7.6m, spending 89% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $7.3m to $8.6m (+18%), an average of +5.5% a year. The sharpest change came in the year to June 2022, when income rose by 94%. 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, Homeword Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 96th percentile within MT. Charities of a similar size with the same main cause include Ark Regional Services Inc ($8.6m), Serenity House of Clallam County ($8.6m) and National Lutheran Inc ($8.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 16% and program service revenue 84% of the total. Compensation of current officers, directors and key employees was $457k (6.0% of expenses). Other salaries and wages came to $347k. At year end it held assets of $58.9m against liabilities of $24.9m, net assets of $34.1m. It reported 18 employees.