Homes First

Analysis

Homes First is a registered charity in United States, based in Lacey, WA. It received its IRS tax-exemption ruling in November 1990, 36 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 December 2023, Homes First reported income of $2.7m and spending of $2.0m, leaving 25% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.1m to $2.7m (+142%), an average of +25% a year. The sharpest change came in the year to December 2022, when income rose by 52%. Over the whole period it spent 84% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Homes First sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 89th percentile within WA. Charities of a similar size with the same main cause include Boys and Girls Clubs of Santa Cruz County ($2.7m), Activstars Outreach ($2.7m) and Boys & Girls Clubs of LA Habra-Brea ($2.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 60% and program service revenue 40% of the total. Compensation of current officers, directors and key employees was $113k (5.6% of expenses). Other salaries and wages came to $585k. At year end it held assets of $13.5m against liabilities of $11.0m, net assets of $2.6m. It reported 14 employees.