Innovative Housing Development Corporation

Analysis

Innovative Housing Development Corporation is a registered charity in United States, based in Fort Gratiot, MI. It received its IRS tax-exemption ruling in July 1981, 45 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 September 2023, Innovative Housing Development Corporation reported income of $11.9m and spending of $11.1m, spending 94% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $6.8m to $11.9m (+75%), an average of +15% a year. The sharpest change came in the year to September 2021, when income rose by 19%. Over the whole period it spent 94% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Innovative 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 96th percentile, and in the 96th percentile within MI. Charities of a similar size with the same main cause include Park Village Inc ($11.9m), Summit at First Hill ($11.9m) and Young Mens Christian Association Youngstown Oh ($11.9m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 1.1% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $154k (1.4% of expenses). Other salaries and wages came to $7.6m. At year end it held assets of $7.5m against liabilities of $928k, net assets of $6.5m. It reported 233 employees.