Commonwealth Housing Development Corporation

Analysis

Commonwealth Housing Development Corporation is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in May 1992, 34 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 October 2023, Commonwealth Housing Development Corporation reported income of $80k and spending of $111k, spending 139% of what it took in. Across the 5 years on record, from October 2019 to October 2023, income fell from $117k to $80k (-32%), an average of -9.2% a year. The sharpest change came in the year to October 2023, when income dropped by 40%. Over the whole period it spent 96% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Commonwealth Housing Development Corporation sits at the 18th percentile: it is larger than about 18% of them. Against every charity in United States with reported income it ranks in the 31st percentile, and in the 29th percentile within PA. Charities of a similar size with the same main cause include Delia Foundation ($80k), Pacific Housing Development Inc ($80k) and Adirondack Housing Development Fund Co Inc ($80k).

On its Form 990 for the period ending October 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $1.3m against liabilities of $998k, net assets of $339k.