Norse Home Inc

Analysis

Norse Home Inc is a registered charity in United States, based in Seattle, WA. It received its IRS tax-exemption ruling in August 1940, 86 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 September 2023, Norse Home Inc reported income of $4.7m and spending of $6.4m, spending 136% of what it took in. Across the 5 years on record, from December 2019 to September 2023, income grew from $4.7m to $4.7m (+0.9%), an average of +0.2% a year. Over the whole period it spent 117% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Norse Home Inc 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 93rd percentile within WA. Charities of a similar size with the same main cause include The Salem Pantry Inc ($4.7m), Northwestern Connecticut Young Mens Christian Association Inc ($4.7m) and Angelheart Inc ($4.7m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 0.9% and program service revenue 98% of the total. Other salaries and wages came to $3.1m. At year end it held assets of $17.9m against liabilities of $2.5m, net assets of $15.5m. It reported 82 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.