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 $260k and spending of $505k, spending 194% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $266k to $260k (-2.1%), an average of -0.5% a year. The sharpest change came in the year to June 2022, when income rose by 50%. Over the whole period it spent 177% 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 57th percentile: it is larger than about 57% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 59th percentile within IL. Charities of a similar size with the same main cause include Radnor High School Scholarship Fund ($260k), Operation Honor Guard NFP ($260k) and Novato High School Boosters Club ($260k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $50k. At year end it held assets of $1.6m against liabilities of $6.3m, net assets of -$4.7m.

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.