Tenants Development Corporation

Analysis

Tenants Development Corporation is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in September 1972, 54 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 December 2023, Tenants Development Corporation reported income of $2.9m and spending of $1.7m, leaving 40% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.7m to $2.9m (+71%), an average of +14% a year. The sharpest change came in the year to December 2023, when income rose by 79%. Over the whole period it spent 82% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Tenants Development Corporation sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 88th percentile within MA. Charities of a similar size with the same main cause include Providence Ministries for the Needy Inc ($2.9m), A Caring Safe Place Inc ($2.9m) and Richmond Affordable Housing ($2.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.0% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $371k (21% of expenses). Other salaries and wages came to $411k. At year end it held assets of $31.6m against liabilities of $2.3m, net assets of $29.3m. It reported 31 employees.