Mutual Housing Association of Greater Hartford Inc

Analysis

Mutual Housing Association of Greater Hartford Inc is a registered charity in United States, based in Hartford, CT. It received its IRS tax-exemption ruling in December 1988, 38 years ago. 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, Mutual Housing Association of Greater Hartford Inc reported income of $4.8m and spending of $6.0m, spending 125% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.5m to $4.8m (+90%), an average of +17% a year. The sharpest change came in the year to December 2020, when income rose by 192%. Over the whole period it spent 85% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Mutual Housing Association of Greater Hartford Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 90th percentile within CT. Charities of a similar size with the same main cause include Veterans Consortium Pro Bono Program ($4.8m), Dayspring Homes Inc ($4.8m) and Apprentice Education Trust Local 440 ($4.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 46% and program service revenue 50% of the total. Compensation of current officers, directors and key employees was $169k (2.8% of expenses). Other salaries and wages came to $972k. At year end it held assets of $39.6m against liabilities of $12.6m, net assets of $27.0m. It reported 40 employees.