1260 Housing Development Corporation

Analysis

1260 Housing Development Corporation is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in April 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 June 2023, 1260 Housing Development Corporation reported income of $15.7m and spending of $16.0m, spending 102% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $14.9m to $15.7m (+4.9%), an average of +1.2% a year. The sharpest change came in the year to June 2021, when income rose by 17%. Over the whole period it spent 102% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, 1260 Housing Development Corporation sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within PA. Charities of a similar size with the same main cause include Mercy Services for Aging Nonprofit Housing Corporation ($15.6m), Housing Partnership Inc ($15.7m) and Urban Housing Solutions Inc ($15.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.0% and program service revenue 93% of the total. At year end it held assets of $83.7m against liabilities of $38.3m, net assets of $45.5m.