Homeboy Industries

Analysis

Homeboy Industries is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in March 2001, 25 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Homeboy Industries reported income of $47.2m and spending of $40.0m, spending 85% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $18.1m to $47.2m (+161%), an average of +27% a year. The sharpest change came in the year to December 2021, when income rose by 94%. Over the whole period it spent 69% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Homeboy Industries sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within CA. Charities of a similar size with the same main cause include Alternative Education Academy ($46.4m), Conservation Legacy ($48.5m) and Youth for Tomorrow New Life Center Inc ($45.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 83% and program service revenue 1.2% of the total. Compensation of current officers, directors and key employees was $810k (2.0% of expenses). Other salaries and wages came to $15.1m. It paid $145k in professional fundraising fees. At year end it held assets of $102.1m against liabilities of $29.6m, net assets of $72.5m. It reported 574 employees.