Burbank Housing Corporation

Analysis

Burbank Housing Corporation is a registered charity in United States, based in Burbank, CA. It received its IRS tax-exemption ruling in December 1998, 28 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 December 2023, Burbank Housing Corporation reported income of $10.0m and spending of $9.8m, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $6.6m to $10.0m (+50%), an average of +11% a year. The sharpest change came in the year to December 2023, when income rose by 42%. Over the whole period it spent 124% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Burbank Housing Corporation sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within CA. Charities of a similar size with the same main cause include Provident Commonwealth Education Resources II ($10.0m), Bienestar Inc ($10.0m) and Silver Maples of Chelsea ($10.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 21% and program service revenue 78% of the total. Compensation of current officers, directors and key employees was $299k (3.1% of expenses). Other salaries and wages came to $2.2m. At year end it held assets of $48.8m against liabilities of $80.2m, net assets of -$31.4m. It reported 4 employees.