Myrtle Avenue Community Development Corporation

Analysis

Myrtle Avenue Community Development Corporation is a registered charity in United States, based in El Paso, TX. It received its IRS tax-exemption ruling in May 2009, 17 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, Myrtle Avenue Community Development Corporation reported income of $93k and spending of $120k, spending 129% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $80k to $93k (+16%), an average of +3.8% a year. Over the whole period it spent 145% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Myrtle Avenue Community Development Corporation sits at the 21st percentile: it is larger than about 21% of them. Against every charity in United States with reported income it ranks in the 35th percentile, and in the 37th percentile within TX. Charities of a similar size with the same main cause include Yolo Mutual Housing Association ($93k), Brookside Redevelopment Company Inc ($93k) and LSS Housing Home Sweet Home Inc ($93k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 62% and program service revenue 37% of the total. At year end it held assets of $997k against liabilities of $1.5m, net assets of -$476k.

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.