Homebridge Ventures Inc

Analysis

Homebridge Ventures Inc is a registered charity in United States, based in Bridgeport, CT. It received its IRS tax-exemption ruling in February 2022, 4 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Homebridge Ventures Inc reported income of $311k and spending of $303k, spending 97% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $338k to $311k (-7.9%), an average of -7.9% a year. Over the whole period it spent 83% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Homebridge Ventures Inc sits at the 57th percentile: it is larger than about 57% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 60th percentile within CT. Charities of a similar size with the same main cause include Northern California Dr Martin Luther King Jr Community Foundatio ($311k), Northeast Houston Redevelopment Council ($311k) and Maaser Fund Corp ($311k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 77% and program service revenue 23% of the total. Compensation of current officers, directors and key employees was $17k (5.7% of expenses). Other salaries and wages came to $117k. At year end it held assets of $110k against liabilities of $2,103, net assets of $108k. It reported 3 employees.