Broom Homestead Inc

Analysis

Broom Homestead Inc is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in September 2016, 10 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 December 2023, Broom Homestead Inc reported income of $369k and spending of $358k, spending 97% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $228k to $369k (+62%), an average of +17% a year. The sharpest change came in the year to December 2023, when income rose by 23%. Over the whole period it spent 93% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Broom Homestead Inc sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 67th percentile within CA. Charities of a similar size with the same main cause include Simple Truth Foundation Inc ($369k), Senior Services of Chaffee Mo Inc ($369k) and Immigrant Hope Santa Barbara Ca Inc ($369k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $62k (17% of expenses). At year end it held assets of $855k against liabilities of $491k, net assets of $364k.