Phac No 1 Inc

Analysis

Phac No 1 Inc is a registered charity in United States, based in Honolulu, HI. It received its IRS tax-exemption ruling in August 1992, 34 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 June 2023, Phac No 1 Inc reported income of $407k and spending of $529k, spending 130% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $385k to $407k (+5.8%), an average of +1.9% a year. Over the whole period it spent 127% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Phac No 1 Inc sits at the 53rd percentile: it is larger than about 53% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 65th percentile within HI. Charities of a similar size with the same main cause include Charity on Wheels Inc ($406k), Community Catalysts Development Company ($407k) and Seneca Housing Inc ($406k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 70% and program service revenue 30% of the total. Other salaries and wages came to $32k. At year end it held assets of $3.1m against liabilities of $2.7m, net assets of $453k.

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.