Vietnamese American Initiative for Development Inc

Analysis

Vietnamese American Initiative for Development Inc is a registered charity in United States, based in Dorchester, MA. It received its IRS tax-exemption ruling in January 1996, 30 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, Vietnamese American Initiative for Development Inc reported income of $2.4m and spending of $2.6m, spending 110% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.2m to $2.4m (+93%), an average of +18% a year. The sharpest change came in the year to December 2020, when income rose by 133%. Over the whole period it spent 96% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Vietnamese American Initiative for Development Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 86th percentile within MA. Charities of a similar size with the same main cause include Society of St Vincent de Paul St Therese Conference ($2.4m), Habitat for Humanity International Inc ($2.4m) and Alpha Building Foundation Corporation ($2.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 83% and program service revenue 12% of the total. Compensation of current officers, directors and key employees was $137k (5.2% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $6.6m against liabilities of $3.3m, net assets of $3.3m. It reported 33 employees.