Innovative Housing Opportunities Inc

Analysis

Innovative Housing Opportunities Inc is a registered charity in United States, based in Santa Ana, CA. It received its IRS tax-exemption ruling in December 1977, 49 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 December 2023, Innovative Housing Opportunities Inc reported income of $3.0m and spending of $3.3m, spending 109% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.9m to $3.0m (+5.4%), an average of +1.3% a year. The sharpest change came in the year to December 2022, when income rose by 282%. Over the whole period it spent 69% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Innovative Housing Opportunities Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 90th percentile within CA. Charities of a similar size with the same main cause include Aerial Recovery ($3.0m), Affordable Community Housing Trust ($3.0m) and Cambria Library Assn ($3.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 44% and program service revenue 55% of the total. Compensation of current officers, directors and key employees was $394k (12% of expenses). Other salaries and wages came to $783k. At year end it held assets of $17.5m against liabilities of $2.9m, net assets of $14.6m. It reported 13 employees.