Home Development Inc

Analysis

Home Development Inc is a registered charity in United States, based in New Haven, CT. It received its IRS tax-exemption ruling in July 1988, 38 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending March 2024, Home Development Inc reported income of $326k and spending of $858k, spending 263% of what it took in. Across the 5 years on record, from March 2020 to March 2024, income grew from $298k to $326k (+9.3%), an average of +2.2% a year. The sharpest change came in the year to March 2021, when income dropped by 18%. Over the whole period it spent 297% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Home Development Inc sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 60th percentile within CT. Charities of a similar size with the same main cause include Casa of the Ninth ($326k), Esther Residence ($326k) and Sacred Saving Agave for Culture Recreation Education and Developme ($326k).

On its Form 990 for the period ending March 2024, revenue came from program service revenue 96% of the total. At year end it held assets of $4.8m against liabilities of $10.5m, net assets of -$5.6m.

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.