Rock Island Housing Finance Corporation

Analysis

Rock Island Housing Finance Corporation is a registered charity in United States, based in East Moline, IL. It received its IRS tax-exemption ruling in February 2013, 13 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 March 2023, Rock Island Housing Finance Corporation reported income of $3.4m and spending of $2.9m, spending 85% of its income. Across the 4 years on record, from March 2020 to March 2023, income grew from $2.1m to $3.4m (+64%), an average of +18% a year. The sharpest change came in the year to March 2023, when income rose by 41%. Over the whole period it spent 66% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Rock Island Housing Finance Corporation sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 90th percentile within IL. Charities of a similar size with the same main cause include Heartland Independent Living Center ($3.4m), Central Delaware HFH ($3.4m) and Affordable Housing Opportunities Inc ($3.4m).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 24% and program service revenue 75% of the total. Other salaries and wages came to $102k. At year end it held assets of $17.2m against liabilities of $15.8m, net assets of $1.4m.