Haven Towers Development Corporation

Analysis

Haven Towers Development Corporation is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in June 1999, 27 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 June 2023, Haven Towers Development Corporation reported income of $1.1m and spending of $1.3m, spending 116% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.0m to $1.1m (+12%), an average of +2.9% a year. Over the whole period it spent 107% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Haven Towers Development Corporation sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 80th percentile within IL. Charities of a similar size with the same main cause include Umma Foundation Inc ($1.1m), Hillabee Towers Inc ($1.1m) and Miss Laura M Raymond Homes Inc ($1.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 70% and program service revenue 29% of the total. Other salaries and wages came to $266k. At year end it held assets of $6.2m against liabilities of $6.7m, net assets of -$512k.

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.