Villa Mercede Community Urban Redevelopment Corporation

Analysis

Villa Mercede Community Urban Redevelopment Corporation is a registered charity in United States, based in Cleveland, OH. It received its IRS tax-exemption ruling in September 1978, 48 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 September 2024, Villa Mercede Community Urban Redevelopment Corporation reported income of $1.8m and spending of $1.9m, spending 105% of its income. Across the 6 years on record, from September 2019 to September 2024, income grew from $1.6m to $1.8m (+13%), an average of +2.5% a year. Over the whole period it spent 101% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Villa Mercede Community Urban Redevelopment Corporation sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 85th percentile within OH. Charities of a similar size with the same main cause include Neighborhood Capital Funding Inc ($1.8m), Martinsburg Union Rescue Mission Inc ($1.8m) and Dallas Eviction Advocacy Center ($1.8m).

On its Form 990 for the period ending September 2024, revenue came from contributions and grants 67% and program service revenue 32% of the total. At year end it held assets of $2.9m against liabilities of $2.7m, net assets of $149k.

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.