Philadelphia Housing Development Corporation

Analysis

Philadelphia Housing Development Corporation is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in April 1967, 59 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a governmental unit under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Philadelphia Housing Development Corporation reported income of $179.7m and spending of $161.0m, spending 90% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $43.2m to $179.7m (+316%), an average of +43% a year. The sharpest change came in the year to June 2021, when income rose by 91%. Over the whole period it spent 95% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Philadelphia Housing Development Corporation sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 99th percentile within PA. Charities of a similar size with the same main cause include Lutheran Senior Services East ($177.4m), Preservation Freehold Company ($205.5m) and Hope Network ($165.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 95% of the total. Compensation of current officers, directors and key employees was $389k (0.2% of expenses). Other salaries and wages came to $7.8m. At year end it held assets of $160.8m against liabilities of $135.2m, net assets of $25.6m. It reported 192 employees.