Auburn Residential Development Corporation

Analysis

Auburn Residential Development Corporation is a registered charity in United States, based in Auburn, ME. It received its IRS tax-exemption ruling in April 1989, 37 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending March 2024, Auburn Residential Development Corporation reported income of $217k and spending of $124k, leaving 43% of income unspent that year. Across the 5 years on record, from March 2020 to March 2024, income fell from $737k to $217k (-71%), an average of -26% a year. The sharpest change came in the year to March 2022, when income dropped by 56%. Over the whole period it spent 28% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Auburn Residential Development Corporation sits at the 39th percentile: it is larger than about 39% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 48th percentile within ME. Charities of a similar size with the same main cause include Community Housing Resources Inc ($217k), Magnolia Manor of Macon Supportive Housing Inc ($217k) and Fort Kennedy ($217k).

On its Form 990 for the period ending March 2024, revenue came from program service revenue 49% of the total. At year end it held assets of $7.3m against liabilities of $19k, net assets of $7.3m.