Metropolitan Housing Development Corporation

Analysis

Metropolitan Housing Development Corporation is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in April 1995, 31 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Metropolitan Housing Development Corporation reported income of $642k and spending of $774k, spending 121% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $659k to $642k (-2.7%), an average of -0.7% a year. Over the whole period it spent 118% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Metropolitan Housing Development Corporation sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 73rd percentile within IL. Charities of a similar size with the same main cause include Sync Space Entrepreneur Center ($641k), Madisonville-Hopkins County Development Corporation ($642k) and Kaunalewa ($641k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 98% of the total. Other salaries and wages came to $166k. At year end it held assets of $3.8m against liabilities of $5.6m, net assets of -$1.7m. It reported 11 employees.

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.