Monterey County Housing Authority Development Corporation

Analysis

Monterey County Housing Authority Development Corporation is a registered charity in United States, based in Salinas, CA. It received its IRS tax-exemption ruling in August 2006, 20 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 June 2023, Monterey County Housing Authority Development Corporation reported income of $4.0m and spending of $3.5m, spending 87% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.8m to $4.0m (+42%), an average of +9.2% a year. The sharpest change came in the year to June 2021, when income rose by 252%. Over the whole period it spent 44% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Monterey County Housing Authority Development Corporation sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 91st percentile within CA. Charities of a similar size with the same main cause include Hills Support Services Inc ($4.0m), Alachua Habitat for Humanity Inc ($4.0m) and Habitat for Humanity International Inc ($4.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 30% and program service revenue 70% of the total. Compensation of current officers, directors and key employees was $122k (3.5% of expenses). At year end it held assets of $66.1m against liabilities of $26.3m, net assets of $39.9m. It reported 101 employees.