Project Home

Analysis

Project Home is a registered charity in United States, based in Portland, ME. It received its IRS tax-exemption ruling in August 2018, 8 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 December 2023, Project Home reported income of $1.4m and spending of $1.1m, leaving 23% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $491k to $1.4m (+184%), an average of +184% a year. The sharpest change came in the year to December 2023, when income rose by 184%. Over the whole period it spent 67% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Project Home sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 80th percentile within ME. Charities of a similar size with the same main cause include Cathedral Cloisters Inc ($1.4m), Central WV Outreach Center Inc ($1.4m) and Geneva Plaza Inc ($1.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $136k (13% of expenses). Other salaries and wages came to $254k. At year end it held assets of $649k against liabilities of $60k, net assets of $589k.