Credo Housing Development Corporation

Analysis

Credo Housing Development Corporation is a registered charity in United States, based in Waterbury, CT. It received its IRS tax-exemption ruling in May 1987, 39 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 December 2023, Credo Housing Development Corporation reported income of $128k and spending of $156k, spending 122% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $202k to $128k (-37%), an average of -11% a year. The sharpest change came in the year to December 2022, when income rose by 120%. Over the whole period it spent 76% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Credo Housing Development Corporation sits at the 28th percentile: it is larger than about 28% of them. Against every charity in United States with reported income it ranks in the 43rd percentile, and in the 41st percentile within CT. Charities of a similar size with the same main cause include Mercy Housing Franciscan Campus Inc ($128k), Access Housing of Jasper County Inc ($128k) and Wills Manor Housing Corporation ($128k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 52% of the total. Compensation of current officers, directors and key employees was $41k (26% of expenses). At year end it held assets of $858k against liabilities of $52, net assets of $858k. It reported 1 employees.