South Portland Housing Development Corporation

Analysis

South Portland Housing Development Corporation is a registered charity in United States, based in S Portland, ME. It received its IRS tax-exemption ruling in April 1994, 32 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 September 2023, South Portland Housing Development Corporation reported income of $4.1m and spending of $2.7m, leaving 33% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $777k to $4.1m (+424%), an average of +51% a year. The sharpest change came in the year to September 2020, when income rose by 107%. Over the whole period it spent 82% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, South Portland Housing 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 90th percentile within ME. Charities of a similar size with the same main cause include Nelson Hall Homes ($4.1m), Mercy Housing Southwest ($4.1m) and Riverside Housing Development Corporation ($4.1m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 1.9% and program service revenue 80% of the total. Other salaries and wages came to $228k. At year end it held assets of $10.4m against liabilities of $2.5m, net assets of $7.9m.