Homeward Bound-Culver City Housing Corporation

Analysis

Homeward Bound-Culver City Housing Corporation is a registered charity in United States, based in Culver City, CA. It received its IRS tax-exemption ruling in December 1996, 30 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Homeward Bound-Culver City Housing Corporation reported income of $96k and spending of $110k, spending 115% of what it took in. Across the 3 years on record, from June 2019 to June 2023, income grew from $87k to $96k (+10%), an average of +5.0% a year. Over the whole period it spent 109% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Homeward Bound-Culver City Housing Corporation sits at the 31st percentile: it is larger than about 31% of them. Against every charity in United States with reported income it ranks in the 36th percentile, and in the 38th percentile within CA. Charities of a similar size with the same main cause include Historic Franklin Metcalf Farm Preservation Association ($96k), Connecticut Partnership for Children Inc ($96k) and Middle Tennessee Mission Outreach Inc ($96k).

On its Form 990-EZ for the period ending June 2023, revenue came from program service revenue 91% of the total. At year end it held assets of $249k against liabilities of $470k, net assets of -$221k.

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.