Homewise Inc

Analysis

Homewise Inc is a registered charity in United States, based in Santa Fe, NM. It received its IRS tax-exemption ruling in May 1987, 39 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 March 2023, Homewise Inc reported income of $25.2m and spending of $21.7m, spending 86% of its income. Across the 4 years on record, from March 2020 to March 2023, income grew from $20.1m to $25.2m (+25%), an average of +7.7% a year. The sharpest change came in the year to March 2021, when income rose by 71%. Over the whole period it spent 74% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Homewise Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within NM. Charities of a similar size with the same main cause include Ray Graham Association for People with Disabilities ($25.2m), Interfaith Community Services Inc ($25.2m) and Eden Home Inc ($25.1m).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 24% and program service revenue 76% of the total. Compensation of current officers, directors and key employees was $1.8m (8.4% of expenses). Other salaries and wages came to $7.8m. It paid $39k in professional fundraising fees. At year end it held assets of $228.5m against liabilities of $147.4m, net assets of $81.2m. It reported 159 employees.