Metropolitan Denver Homeless Initiative Inc

Analysis

Metropolitan Denver Homeless Initiative Inc is a registered charity in United States, based in Denver, CO. It received its IRS tax-exemption ruling in August 2022, 4 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 June 2023, Metropolitan Denver Homeless Initiative Inc reported income of $4.3m and spending of $4.4m, spending 103% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.8m to $4.3m (+52%), an average of +11% a year. The sharpest change came in the year to June 2021, when income rose by 108%. Over the whole period it spent 94% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Metropolitan Denver Homeless Initiative Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within CO. Charities of a similar size with the same main cause include Mid-State Opportunity Inc ($4.3m), Shelter Inc Suite 203 ($4.3m) and Community Homeless Solutions ($4.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 92% and program service revenue 2.4% of the total. Compensation of current officers, directors and key employees was $274k (6.2% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $1.7m against liabilities of $235k, net assets of $1.5m. It reported 26 employees.