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 $308k and spending of $574k, spending 186% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $213k to $308k (+45%), an average of +9.7% a year. The sharpest change came in the year to June 2022, when income rose by 22%. Over the whole period it spent 194% 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 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 63rd percentile within IL. Charities of a similar size with the same main cause include Arc-Kent County Inc ($308k), Hornell High School Alumni Association ($308k) and Pine Lake Fellowship Camp Association Inc ($308k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 95% of the total. Other salaries and wages came to $55k. At year end it held assets of $2.9m against liabilities of $7.0m, net assets of -$4.1m.

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.