Anchor Homes

Analysis

Anchor Homes is a registered charity in United States, based in Dunbar, WV. It received its IRS tax-exemption ruling in March 2022, 4 years ago. Its declared purposes cover mental health and crisis intervention, which this site groups under health and saving lives. 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 December 2023, Anchor Homes reported income of $606k and spending of $597k, spending 98% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $137k to $606k (+343%), an average of +343% a year. The sharpest change came in the year to December 2023, when income rose by 343%. Over the whole period it spent 99% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Anchor Homes sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 71st percentile within WV. Charities of a similar size with the same main cause include Citybridge Health Foundation ($606k), Gilead Healing Ministries ($606k) and Winners Foundation ($606k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 56% and program service revenue 44% of the total. Compensation of current officers, directors and key employees was $52k (8.7% of expenses). Other salaries and wages came to $193k. At year end it held assets of $1.4m against liabilities of $1.1m, net assets of $361k. It reported 10 employees.