Homeward Bound

Analysis

Homeward Bound is a registered charity in United States, based in Mesa, AZ. It received its IRS tax-exemption ruling in September 1990, 36 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Homeward Bound reported income of $4.6m and spending of $4.7m, spending 102% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $3.5m to $4.6m (+29%), an average of +9.0% a year. The sharpest change came in the year to June 2022, when income rose by 66%. Over the whole period it spent 109% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Homeward Bound 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 92nd percentile, and in the 89th percentile within AZ. Charities of a similar size with the same main cause include Lutheran Retirement Center at Lutheridge Inc ($4.6m), Associated Community Services Inc ($4.6m) and Jasa Housing Management Services for the Aged Inc ($4.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 93% and program service revenue 5.5% of the total. Compensation of current officers, directors and key employees was $143k (3.1% of expenses). Other salaries and wages came to $2.5m. It paid $25k in professional fundraising fees. At year end it held assets of $4.4m against liabilities of $1.1m, net assets of $3.3m. It reported 68 employees.