Fame Housing Corporation

Analysis

Fame Housing Corporation is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in February 1990, 36 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 June 2023, Fame Housing Corporation reported income of $561k and spending of $505k, spending 90% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.1m to $561k (-47%), an average of -15% a year. The sharpest change came in the year to June 2023, when income dropped by 38%. Over the whole period it spent 108% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Fame Housing Corporation sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 73rd percentile within CA. Charities of a similar size with the same main cause include Museums Alaska Incorporated ($561k), Amateur Athletic Untion of the United States Inc ($561k) and The Meeting Place Clubhouse Inc ($561k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 84% of the total. Other salaries and wages came to $54k. At year end it held assets of $1.3m against liabilities of $5.8m, net assets of -$4.5m.