The Neighborhood Developers Inc

Analysis

The Neighborhood Developers Inc is a registered charity in United States, based in Chelsea, MA. It received its IRS tax-exemption ruling in February 1979, 47 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, The Neighborhood Developers Inc reported income of $8.3m and spending of $8.7m, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.4m to $8.3m (+87%), an average of +17% a year. The sharpest change came in the year to December 2020, when income rose by 35%. Over the whole period it spent 95% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, The Neighborhood Developers Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 93rd percentile within MA. Charities of a similar size with the same main cause include New Horizons Affordable Housing and Development Inc ($8.3m), Habitat for Humanity International Inc ($8.3m) and Depaul USA Inc ($8.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 49% and program service revenue 73% of the total. Compensation of current officers, directors and key employees was $225k (2.6% of expenses). Other salaries and wages came to $2.2m. It paid $30k in professional fundraising fees. At year end it held assets of $34.9m against liabilities of $23.4m, net assets of $11.5m. It reported 39 employees.