Metropolitan Housing Development Corporation

Analysis

Metropolitan Housing Development Corporation is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in April 1995, 31 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Metropolitan Housing Development Corporation reported income of $97k and spending of $248k, spending 256% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.3m to $97k (-93%), an average of -48% a year. The sharpest change came in the year to June 2021, when income rose by 2544%. Over the whole period it spent 99% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Metropolitan Housing Development Corporation sits at the 35th percentile: it is larger than about 35% of them. Against every charity in United States with reported income it ranks in the 36th percentile, and in the 37th percentile within IL. Charities of a similar size with the same main cause include Casas Adobes Rotary Foundation Inc ($97k), River Valley Commons ($97k) and Vergennes Partnership Inc ($97k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 5.8% of the total. Compensation of current officers, directors and key employees was $104k (42% of expenses). At year end it held assets of $1.5m against liabilities of $211k, net assets of $1.3m. It reported 1 employees.