Abode Services

Analysis

Abode Services is a registered charity in United States, based in Fremont, CA. It received its IRS tax-exemption ruling in November 1989, 37 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 June 2023, Abode Services reported income of $126.4m and spending of $124.5m, spending 99% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $63.6m to $126.4m (+99%), an average of +19% a year. The sharpest change came in the year to June 2021, when income rose by 36%. Over the whole period it spent 98% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Abode Services sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 100th percentile within CA. Charities of a similar size with the same main cause include H E L P USA Inc ($122.6m), Preservation of Affordable Housing Inc ($145.5m) and Unlimited Development Inc ($118.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% and program service revenue 1.0% of the total. Compensation of current officers, directors and key employees was $844k (0.7% of expenses). Other salaries and wages came to $32.9m. It paid $120k in professional fundraising fees. At year end it held assets of $62.5m against liabilities of $38.0m, net assets of $24.5m. It reported 898 employees.