Holly City Development Corporation

Analysis

Holly City Development Corporation is a registered charity in United States, based in Millville, NJ. It received its IRS tax-exemption ruling in February 1999, 27 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, Holly City Development Corporation reported income of $1.0m and spending of $1.0m, spending 100% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $765k to $1.0m (+36%), an average of +8.0% a year. The sharpest change came in the year to September 2022, when income rose by 73%. Over the whole period it spent 89% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Holly City Development Corporation sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 83rd percentile within NJ. Charities of a similar size with the same main cause include McAllen Housing Development Corporation ($1.0m), Cabrini Gardens Senior Housing Development Fund Company Inc ($1.0m) and Greater Baltimore Ahc Inc ($1.0m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 85% and program service revenue 15% of the total. Compensation of current officers, directors and key employees was $127k (12% of expenses). At year end it held assets of $1.4m against liabilities of $156k, net assets of $1.3m. It reported 5 employees.