Kenai Peninsula Housing Initiatives Incorporated

Analysis

Kenai Peninsula Housing Initiatives Incorporated is a registered charity in United States, based in Homer, AK. It received its IRS tax-exemption ruling in March 1998, 28 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Kenai Peninsula Housing Initiatives Incorporated reported income of $1.8m and spending of $2.7m, spending 152% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $3.2m to $1.8m (-46%), an average of -14% a year. The sharpest change came in the year to December 2022, when income dropped by 47%. Over the whole period it spent 94% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Kenai Peninsula Housing Initiatives Incorporated sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 84th percentile within AK. Charities of a similar size with the same main cause include Mins Court Housing Company Inc ($1.8m), Bayside Housing & Services ($1.8m) and Chittenden Housing Corporation ($1.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 9.6% and program service revenue 90% of the total. Compensation of current officers, directors and key employees was $144k (5.4% of expenses). Other salaries and wages came to $287k. At year end it held assets of $21.6m against liabilities of $6.8m, net assets of $14.9m. It reported 6 employees.