Colver Development Corp

Analysis

Colver Development Corp is a registered charity in United States, based in N Cambria, PA. It received its IRS tax-exemption ruling in July 2010, 16 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, Colver Development Corp reported income of $147k and spending of $160k, spending 109% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $124k to $147k (+18%), an average of +4.3% a year. Over the whole period it spent 116% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Colver Development Corp sits at the 31st percentile: it is larger than about 31% of them. Against every charity in United States with reported income it ranks in the 47th percentile, and in the 44th percentile within PA. Charities of a similar size with the same main cause include Hillsboro Manor Housing Inc ($147k), North Oak Cliff Community Development Corporation ($147k) and Hazen Pioneer Apartments ($147k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 45% and program service revenue 51% of the total. Other salaries and wages came to $31k. At year end it held assets of $322k against liabilities of $122k, net assets of $200k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.