Homeward Bound Inc

Analysis

Homeward Bound Inc is a registered charity in United States, based in Michigan City, IN. It received its IRS tax-exemption ruling in April 2017, 9 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 December 2023, Homeward Bound Inc reported income of $76k and spending of $56k, leaving 27% of income unspent that year. Across the 4 years on record, from December 2019 to December 2023, income fell from $230k to $76k (-67%), an average of -31% a year. The sharpest change came in the year to December 2022, when income rose by 358%. Over the whole period it spent 25% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Homeward Bound Inc sits at the 17th percentile: it is larger than about 17% of them. Against every charity in United States with reported income it ranks in the 30th percentile, and in the 27th percentile within IN. Charities of a similar size with the same main cause include Crestview Housing Development Corporation ($76k), Aztex Homes for Ederly Inc ($76k) and Terry Homes Inc ($76k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 93% of the total. At year end it held assets of $436k against liabilities of $8,260, net assets of $428k.