Asian Community Development Corp

Analysis

Asian Community Development Corp is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in October 1998, 28 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, Asian Community Development Corp reported income of $5.1m and spending of $4.0m, leaving 22% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.5m to $5.1m (+101%), an average of +19% a year. The sharpest change came in the year to December 2023, when income rose by 43%. Over the whole period it spent 74% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Asian Community Development Corp sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 91st percentile within MA. Charities of a similar size with the same main cause include Kenmore Plaza Tenants Association ($5.1m), Openhouse ($5.1m) and Neighborhood Partnership Housing Services Inc ($5.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 45% and program service revenue 48% of the total. Compensation of current officers, directors and key employees was $167k (4.2% of expenses). Other salaries and wages came to $763k. At year end it held assets of $37.7m against liabilities of $13.6m, net assets of $24.1m. It reported 12 employees.