Housing Corporation of America

Analysis

Housing Corporation of America is a registered charity in United States, based in Salt Lake City, UT. It received its IRS tax-exemption ruling in December 1989, 37 years ago. 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, Housing Corporation of America reported income of $5.3m and spending of $2.1m, leaving 61% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.0m to $5.3m (+162%), an average of +27% a year. The sharpest change came in the year to December 2023, when income rose by 140%. Over the whole period it spent 61% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Housing Corporation of America sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 92nd percentile within UT. Charities of a similar size with the same main cause include Rancho Cordova Food Locker ($5.3m), Yale University ($5.3m) and Norman Howard School Inc ($5.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 39% and program service revenue 54% of the total. Compensation of current officers, directors and key employees was $546k (27% of expenses). Other salaries and wages came to $517k. At year end it held assets of $16.8m against liabilities of $22k, net assets of $16.8m. It reported 12 employees.