Housing Opportunity Development Corporation

Analysis

Housing Opportunity Development Corporation is a registered charity in United States, based in Skokie, IL. It received its IRS tax-exemption ruling in October 1984, 42 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, Housing Opportunity Development Corporation reported income of $2.3m and spending of $2.5m, spending 110% of what it took in. Across the 6 years on record, from June 2019 to December 2023, income grew from $1.7m to $2.3m (+38%), an average of +6.6% a year. The sharpest change came in the year to December 2020, when income rose by 68%. Over the whole period it spent 76% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Housing Opportunity Development Corporation sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 87th percentile within IL. Charities of a similar size with the same main cause include Madison Park Housing Corporation ($2.3m), Fuller Avenue Senior Citizen Housing Corporation ($2.3m) and Northern California Community Housing Corporation ($2.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 25% and program service revenue 58% of the total. Other salaries and wages came to $1.6m. At year end it held assets of $18.3m against liabilities of $7.4m, net assets of $10.9m. It reported 31 employees.