Wakeland Housing and Development Corporation

Analysis

Wakeland Housing and Development Corporation is a registered charity in United States, based in San Diego, CA. It received its IRS tax-exemption ruling in August 1999, 27 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 June 2023, Wakeland Housing and Development Corporation reported income of $25.6m and spending of $12.2m, leaving 52% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $7.6m to $25.6m (+237%), an average of +36% a year. The sharpest change came in the year to June 2022, when income rose by 81%. Over the whole period it spent 62% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Wakeland Housing and Development Corporation sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within CA. Charities of a similar size with the same main cause include Ali Forney Center ($25.6m), Woodland Pond Inc ($25.7m) and Kinneret II Inc ($25.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 44% and program service revenue 42% of the total. Compensation of current officers, directors and key employees was $4.9m (40% of expenses). At year end it held assets of $85.1m against liabilities of $35.7m, net assets of $49.4m. It reported 50 employees.