Chicago Metropolitan Housing Development Corporation

Analysis

Chicago Metropolitan Housing Development Corporation is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in November 1997, 29 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, Chicago Metropolitan Housing Development Corporation reported income of $10.2m and spending of $10.7m, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $7.2m to $10.2m (+42%), an average of +9.1% a year. The sharpest change came in the year to December 2023, when income rose by 35%. Over the whole period it spent 122% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Chicago Metropolitan Housing Development Corporation sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within IL. Charities of a similar size with the same main cause include Mercy Haven Inc ($10.2m), Community Affordable Housing Equity Corporation ($10.2m) and Housing Opportunities for Women Inc ($10.2m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 86% of the total. Compensation of current officers, directors and key employees was $195k (1.8% of expenses). At year end it held assets of $48.8m against liabilities of $48.1m, net assets of $693k. It reported 6 employees.

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.