Welcome House Properties Inc

Analysis

Welcome House Properties Inc is a registered charity in United States, based in Covington, KY. It received its IRS tax-exemption ruling in April 2022, 4 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a supporting organisation (type i) under section 501(c)(3).

In the financial year ending December 2023, Welcome House Properties Inc reported income of $498k and spending of $456k, spending 91% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $1.7m to $498k (-70%), an average of -70% a year. The sharpest change came in the year to December 2023, when income dropped by 70%. Over the whole period it spent 46% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Welcome House Properties Inc sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 71st percentile within KY. Charities of a similar size with the same main cause include St Vincent de Paul Center of Bakersfield ($498k), Garden of Hope Inc ($498k) and Silicon Valley Jiaren Association ($498k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 87% of the total. At year end it held assets of $9.9m against liabilities of $8.8m, net assets of $1.2m.