Avalon Nonprofit Housing Corp

Analysis

Avalon Nonprofit Housing Corp is a registered charity in United States, based in Ann Arbor, MI. It received its IRS tax-exemption ruling in September 1993, 33 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Avalon Nonprofit Housing Corp reported income of $9.6m and spending of $10.0m, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $7.1m to $9.6m (+37%), an average of +8.1% a year. The sharpest change came in the year to December 2021, when income rose by 21%. Over the whole period it spent 91% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Avalon Nonprofit Housing Corp 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 MI. Charities of a similar size with the same main cause include Grand Street Northwest Inc ($9.6m), Bedford Stuyvesant Restoration Corporation ($9.7m) and Earth Advantage Inc ($9.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 62% and program service revenue 37% of the total. Compensation of current officers, directors and key employees was $148k (1.5% of expenses). Other salaries and wages came to $4.5m. At year end it held assets of $19.5m against liabilities of $14.0m, net assets of $5.5m. It reported 148 employees.