Norfolk Housing Development Corporation

Analysis

Norfolk Housing Development Corporation is a registered charity in United States, based in Norfolk, NE. It received its IRS tax-exemption ruling in September 2002, 24 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 December 2023, Norfolk Housing Development Corporation reported income of $180k and spending of $19k, leaving 90% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $934k to $180k (-81%), an average of -34% a year. The sharpest change came in the year to December 2023, when income rose by 152%. Over the whole period it spent 94% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Norfolk Housing Development Corporation sits at the 35th percentile: it is larger than about 35% of them. Against every charity in United States with reported income it ranks in the 51st percentile, and in the 49th percentile within NE. Charities of a similar size with the same main cause include Five Rivers Loan Fund Inc ($180k), Volunteers of America Inc ($180k) and Sky Parkway Mutual Housing Corporation ($180k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 67% of the total. At year end it held assets of $1.5m against liabilities of $141k, net assets of $1.4m.