Twin Cities Housing Development Corporation

Analysis

Twin Cities Housing Development Corporation is a registered charity in United States, based in Saint Paul, MN. It received its IRS tax-exemption ruling in July 2012, 14 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, Twin Cities Housing Development Corporation reported income of $6.0m and spending of $5.8m, spending 96% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.5m to $6.0m (+141%), an average of +25% a year. The sharpest change came in the year to December 2021, when income rose by 50%. Over the whole period it spent 90% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Twin Cities Housing Development Corporation sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 92nd percentile within MN. Charities of a similar size with the same main cause include Ithaca Neighborhood Housing Services Inc ($6.0m), York Union Rescue Mission Inc ($6.0m) and Friendship Apartment Village Corporation ($6.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.6% and program service revenue 89% of the total. Compensation of current officers, directors and key employees was $254k (4.4% of expenses). Other salaries and wages came to $567k. At year end it held assets of $43.8m against liabilities of $32.1m, net assets of $11.6m. It reported 6 employees.