Alfa Development Inc

Analysis

Alfa Development Inc is a registered charity in United States, based in Newfoundland, NJ. It received its IRS tax-exemption ruling in February 2000, 26 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 June 2023, Alfa Development Inc reported income of $20.5m and spending of $17.0m, spending 83% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $9.1m to $20.5m (+125%), an average of +22% a year. The sharpest change came in the year to June 2020, when income rose by 58%. Over the whole period it spent 80% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Alfa Development Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within NJ. Charities of a similar size with the same main cause include Riverside Charitable Corporation ($20.5m), A Community of Friends ($20.5m) and Viecare Butler LLC ($20.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 12% and program service revenue 88% of the total. Compensation of current officers, directors and key employees was $510k (3.0% of expenses). Other salaries and wages came to $9.8m. At year end it held assets of $18.9m against liabilities of $920k, net assets of $18.0m. It reported 262 employees.