Valley Housing Development Corporation Incorporated

Analysis

Valley Housing Development Corporation Incorporated is a registered charity in United States, based in Springfield, MA. It received its IRS tax-exemption ruling in January 1983, 43 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 December 2023, Valley Housing Development Corporation Incorporated reported income of $215k and spending of $342k, spending 159% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $214k to $215k (+0.9%), an average of +0.2% a year. The sharpest change came in the year to December 2020, when income dropped by 27%. Over the whole period it spent 138% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Valley Housing Development Corporation Incorporated 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 59th percentile within MA. Charities of a similar size with the same main cause include Wesco Housing Corporation ($215k), Robert Matthew Jackson Veterans Center Inc ($216k) and Stand at the Crossroads Ministries ($215k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $55k. At year end it held assets of $3.4m against liabilities of $3.0m, net assets of $401k.

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.