MQVN Community Development Corporation

Analysis

MQVN Community Development Corporation is a registered charity in United States, based in New Orleans, LA. It received its IRS tax-exemption ruling in January 2008, 18 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 June 2023, MQVN Community Development Corporation reported income of $4.6m and spending of $4.1m, spending 88% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.5m to $4.6m (+33%), an average of +7.3% a year. The sharpest change came in the year to June 2021, when income rose by 57%. Over the whole period it spent 87% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, MQVN Community Development Corporation sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 91st percentile within LA. Charities of a similar size with the same main cause include Kor Community Land Trust ($4.6m), Notre Dame Place Inc ($4.6m) and Passage Home Inc ($4.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 59% and program service revenue 41% of the total. Compensation of current officers, directors and key employees was $602k (15% of expenses). Other salaries and wages came to $1.9m. At year end it held assets of $9.2m against liabilities of $201k, net assets of $9.0m. It reported 50 employees.