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 $1.3m and spending of $1.2m, spending 94% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $498k to $1.3m (+156%), an average of +26% a year. The sharpest change came in the year to June 2023, when income rose by 120%. Over the whole period it spent 154% 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 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 81st percentile within IL. Charities of a similar size with the same main cause include Neighbors Together Corp ($1.3m), Pilgrim Senior Citizens Housing Development Corporation ($1.3m) and Victory Village Inc ($1.3m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 49% of the total. Compensation of current officers, directors and key employees was $65k (5.4% of expenses). Other salaries and wages came to $85k. At year end it held assets of $4.3m against liabilities of $12.4m, net assets of -$8.1m. It reported 16 employees.