W H Development Corporation

Analysis

W H Development Corporation is a registered charity in United States, based in Winsted, CT. It received its IRS tax-exemption ruling in August 2003, 23 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, W H Development Corporation reported income of $358k and spending of $429k, spending 120% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $379k to $358k (-5.4%), an average of -1.4% a year. The sharpest change came in the year to December 2021, when income dropped by 16%. Over the whole period it spent 130% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, W H Development Corporation sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 62nd percentile within CT. Charities of a similar size with the same main cause include Central Valley Senior Housing Corporation ($358k), The Noble Ninth Inc ($358k) and Homes of Hope Inc ($358k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 98% of the total. At year end it held assets of $5.2m against liabilities of $2.2m, net assets of $3.0m.

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.