Homebridge Inc

Analysis

Homebridge Inc is a registered charity in United States, based in San Francisco, CA. It received its IRS tax-exemption ruling in March 1986, 40 years ago. 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 June 2023, Homebridge Inc reported income of $33.1m and spending of $34.9m, spending 106% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $26.7m to $33.1m (+24%), an average of +5.4% a year. Over the whole period it spent 100% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Homebridge Inc sits at the 99th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within CA. Charities of a similar size with the same main cause include Family Services of Westchester Inc ($33.0m), Baptist Health System Foundation Inc ($33.1m) and Bioversity International ($33.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 80% and program service revenue 20% of the total. Compensation of current officers, directors and key employees was $1.3m (3.6% of expenses). Other salaries and wages came to $20.8m. At year end it held assets of $21.0m against liabilities of $20.3m, net assets of $643k. It reported 568 employees.