Habibi Terrace Inc

Analysis

Habibi Terrace Inc is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in May 2004, 22 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Habibi Terrace Inc reported income of $563k and spending of $1.1m, spending 191% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $528k to $563k (+6.6%), an average of +1.6% a year. Over the whole period it spent 192% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Habibi Terrace Inc sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 73rd percentile within CA. Charities of a similar size with the same main cause include Circle of Friends Mission Thrift Shoppe ($562k), Christian Service Center of Columbia County Inc ($563k) and Laurel Highlands Workforce and Opportunity Center ($562k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 38% and program service revenue 58% of the total. Other salaries and wages came to $33k. At year end it held assets of $6.6m against liabilities of $14.5m, net assets of -$8.0m. It reported 2 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.