Housing for Hoboken Inc

Analysis

Housing for Hoboken Inc is a registered charity in United States, based in Hoboken, NJ. It received its IRS tax-exemption ruling in April 2020, 6 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 September 2023, Housing for Hoboken Inc reported income of $2.5m and spending of $2.1m, spending 84% of its income. Across the 3 years on record, from September 2021 to September 2023, income grew from $1.2m to $2.5m (+97%), an average of +40% a year. The sharpest change came in the year to September 2022, when income rose by 53%. Over the whole period it spent 95% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Housing for Hoboken Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 89th percentile within NJ. Charities of a similar size with the same main cause include Texas Inter-Faith Management Corporation ($2.5m), Manna Inc ($2.5m) and Progressive Baptist Church Housing Foundation Inc ($2.5m).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 92% of the total. Other salaries and wages came to $526k. At year end it held assets of $5.8m against liabilities of $5.9m, net assets of -$128k.