Keystone Housing Development Corp

Analysis

Keystone Housing Development Corp is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in November 2002, 24 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Keystone Housing Development Corp reported income of $66k and spending of $122k, spending 184% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $68k to $66k (-1.9%), an average of -0.5% a year. Over the whole period it spent 168% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Keystone Housing Development Corp sits at the 15th percentile: it is larger than about 15% of them. Against every charity in United States with reported income it ranks in the 26th percentile, and in the 24th percentile within PA. Charities of a similar size with the same main cause include Westminister-Hoopes Family Residence Corporation ($66k), One Fresno Foundation ($66k) and Meadowlark Housing Inc ($66k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $16k. At year end it held assets of $502k against liabilities of $281k, net assets of $221k.

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.