Turnstone Development Corporation

Analysis

Turnstone Development Corporation is a registered charity in United States, based in Northlake, IL. It received its IRS tax-exemption ruling in June 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 December 2023, Turnstone Development Corporation reported income of $4.7m and spending of $1.6m, leaving 66% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.4m to $4.7m (+8.3%), an average of +2.0% a year. The sharpest change came in the year to December 2022, when income rose by 948%. Over the whole period it spent 38% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Turnstone Development Corporation sits at the 91st percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 92nd percentile within IL. Charities of a similar size with the same main cause include Central Illinois Friends of Pwa Inc ($4.7m), Camfield Tenants Association Inc ($4.7m) and Coeur Dalene Homes Phase II Inc ($4.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 4.4% and program service revenue 101% of the total. Compensation of current officers, directors and key employees was $534k (33% of expenses). Other salaries and wages came to $114k. At year end it held assets of $48.2m against liabilities of $22.6m, net assets of $25.7m. It reported 4 employees.