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. 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 $213k and spending of $351k, spending 165% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $171k to $213k (+25%), an average of +5.7% a year. The sharpest change came in the year to June 2020, when income rose by 41%. Over the whole period it spent 181% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Metropolitan Housing Development Corporation sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 55th percentile within IL. Charities of a similar size with the same main cause include Gethsemane Baptist Church Inc ($213k), PTA New Jersey Congress of Parents & Teachers ($213k) and Paul L Jehle Trust ($213k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $38k. At year end it held assets of $1.9m against liabilities of $4.6m, net assets of -$2.7m.

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.