Housing Development Corporation of

Analysis

Housing Development Corporation of is a registered charity in United States, based in Wilkes Barre, PA. It received its IRS tax-exemption ruling in December 1989, 37 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 December 2023, Housing Development Corporation of reported income of $1.8m and spending of $1.9m, spending 107% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.0m to $1.8m (-8.2%), an average of -2.1% a year. The sharpest change came in the year to December 2020, when income dropped by 19%. Over the whole period it spent 106% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Housing Development Corporation of sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 83rd percentile within PA. Charities of a similar size with the same main cause include Grandview Apartments Affordable Housing Corporation ($1.8m), PHS Shoreview Inc ($1.8m) and Family Promise of Brevard Inc ($1.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 79% and program service revenue 12% of the total. Compensation of current officers, directors and key employees was $104k (5.5% of expenses). Other salaries and wages came to $404k. At year end it held assets of $5.3m against liabilities of $2.7m, net assets of $2.6m. It reported 37 employees.