Valley Affordable Housing Corp

Analysis

Valley Affordable Housing Corp is a registered charity in United States, based in Cumberland, RI. It received its IRS tax-exemption ruling in June 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 March 2023, Valley Affordable Housing Corp reported income of $3.1m and spending of $2.8m, spending 92% of its income. Across the 3 years on record, from March 2020 to March 2023, income grew from $2.3m to $3.1m (+33%), an average of +15% a year. The sharpest change came in the year to March 2022, when income rose by 28%. Over the whole period it spent 92% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Valley Affordable Housing Corp sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 86th percentile within RI. Charities of a similar size with the same main cause include Los Angeles Room & Board ($3.1m), American Housing Foundation Inc ($3.1m) and Long Beach Affordable Housing ($3.1m).

On its Form 990 for the period ending March 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $1.6m. At year end it held assets of $7.5m against liabilities of $3.7m, net assets of $3.8m. It reported 28 employees.