Sky Development Corporation

Analysis

Sky Development Corporation is a registered charity in United States, based in Mobile, AL. It received its IRS tax-exemption ruling in April 2012, 14 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, Sky Development Corporation reported income of $97k and spending of $142k, spending 147% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $77k to $97k (+26%), an average of +5.9% a year. Over the whole period it spent 143% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Sky Development Corporation sits at the 22nd percentile: it is larger than about 22% of them. Against every charity in United States with reported income it ranks in the 36th percentile, and in the 35th percentile within AL. Charities of a similar size with the same main cause include Habitat for Humanity International ($97k), Good Shepherd of Colorado I ($97k) and First Baptist Housing Development Fund Company Inc ($97k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. Other salaries and wages came to $11k. At year end it held assets of $718k against liabilities of $141k, net assets of $578k.

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.