Home for Good of Eau Claire Inc

Analysis

Home for Good of Eau Claire Inc is a registered charity in United States, based in Eau Claire, WI. It received its IRS tax-exemption ruling in March 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 December 2023, Home for Good of Eau Claire Inc reported income of $283k and spending of $370k, spending 131% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $643k to $283k (-56%), an average of -56% a year. The sharpest change came in the year to December 2023, when income dropped by 56%. Over the whole period it spent 56% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Home for Good of Eau Claire Inc sits at the 45th percentile: it is larger than about 45% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 60th percentile within WI. Charities of a similar size with the same main cause include Marshall County Homeless Ministries ($282k), Melrose Affordable Housing Corp ($283k) and Senior Citizens Housing of Moore Ok ($282k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 53% and program service revenue 30% of the total. Compensation of current officers, directors and key employees was $63k (17% of expenses). Other salaries and wages came to $49k. At year end it held assets of $2.7m against liabilities of $2.3m, net assets of $407k.