Family Homestead

Analysis

Family Homestead is a registered charity in United States, based in Denver, CO. It received its IRS tax-exemption ruling in December 1976, 50 years ago. 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, Family Homestead reported income of $1.0m and spending of $964k, spending 95% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $794k to $1.0m (+28%), an average of +6.4% a year. The sharpest change came in the year to December 2023, when income rose by 101%. Over the whole period it spent 113% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Family Homestead sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 78th percentile within CO. Charities of a similar size with the same main cause include Riverhead Community Awareness Program Inc ($1.0m), St Bernard Manor ($1.0m) and Mt Vernon Day Care Center Inc ($1.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 74% and program service revenue 26% of the total. Compensation of current officers, directors and key employees was $48k (5.0% of expenses). Other salaries and wages came to $277k. At year end it held assets of $3.8m against liabilities of $702k, net assets of $3.1m. It reported 9 employees.