Twelve Oaks Foundation

Analysis

Twelve Oaks Foundation is a registered charity in United States, based in Altadena, CA. It received its IRS tax-exemption ruling in December 1958, 68 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Twelve Oaks Foundation reported income of $1.9m and spending of $2.5m, spending 128% of what it took in. Across the 5 years on record, from December 2019 to June 2023, income grew from $1.3m to $1.9m (+43%), an average of +9.4% a year. The sharpest change came in the year to June 2022, when income rose by 55%. Over the whole period it spent 130% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Twelve Oaks Foundation sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 86th percentile within CA. Charities of a similar size with the same main cause include Caring Hands AFC LLC ($1.9m), Promise Inc ($1.9m) and Pasadena Interfaith Housing Foundation Inc ($1.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.3% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $151k (6.2% of expenses). Other salaries and wages came to $906k. At year end it held assets of $7.7m against liabilities of $4.8m, net assets of $3.0m. It reported 42 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.