Homer Foundation

Analysis

Homer Foundation is a registered charity in United States, based in Homer, AK. It received its IRS tax-exemption ruling in May 1992, 34 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. 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 June 2023, Homer Foundation reported income of $1.2m and spending of $680k, leaving 42% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $715k to $1.2m (+64%), an average of +13% a year. The sharpest change came in the year to June 2021, when income rose by 197%. Over the whole period it spent 46% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Homer Foundation sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 79th percentile within AK. Charities of a similar size with the same main cause include Earth Limited ($1.2m), Tomorrows Leaders NYC ($1.2m) and Apprentice Learning Inc ($1.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 90% of the total. Compensation of current officers, directors and key employees was $70k (10% of expenses). Other salaries and wages came to $67k. At year end it held assets of $5.9m against liabilities of $352k, net assets of $5.6m. It reported 4 employees.