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 $803k and spending of $1.3m, spending 157% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $903k to $803k (-11%), an average of -2.9% a year. Over the whole period it spent 173% 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 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 76th percentile within IL. Charities of a similar size with the same main cause include Association for Retarded Citizens Cherokee-Clay Inc ($803k), Lemars Family Young Mens Christian Association ($803k) and Parkside Community Preschool ($803k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 99% of the total. Other salaries and wages came to $149k. At year end it held assets of $4.2m against liabilities of $15.7m, net assets of -$11.5m.

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.