Grundy Development Corporation

Analysis

Grundy Development Corporation is a registered charity in United States, based in Morris, IL. It received its IRS tax-exemption ruling in June 1998, 28 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, Grundy Development Corporation reported income of $1.2m and spending of $532k, leaving 57% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $123k to $1.2m (+910%), an average of +78% a year. The sharpest change came in the year to December 2023, when income rose by 1041%. Over the whole period it spent 54% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Grundy Development Corporation sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 81st percentile within IL. Charities of a similar size with the same main cause include Exodus Housing ($1.2m), Snoqulamie Valley Shelter Services ($1.2m) and Affordable Housing Corporation of Marion Indiana ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 52% and program service revenue 44% of the total. Other salaries and wages came to $166k. At year end it held assets of $2.0m against liabilities of $800k, net assets of $1.2m. It reported 8 employees.