Affordable Housing Development Fund Inc

Analysis

Affordable Housing Development Fund Inc is a registered charity in United States, based in Rockford, IL. It received its IRS tax-exemption ruling in February 1998, 28 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, Affordable Housing Development Fund Inc reported income of $13.8m and spending of $13.0m, spending 94% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $16.7m to $13.8m (-17%), an average of -4.6% a year. The sharpest change came in the year to December 2023, when income dropped by 33%. Over the whole period it spent 90% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Affordable Housing Development Fund Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within IL. Charities of a similar size with the same main cause include Building Homes for Heroes Inc ($13.8m), Convivial Life Inc ($13.8m) and Elevation Community Land Trust ($13.8m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 90% of the total. Compensation of current officers, directors and key employees was $36k (0.3% of expenses). At year end it held assets of $92.6m against liabilities of $68.2m, net assets of $24.4m.