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 $192k and spending of $458k, spending 238% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $214k to $192k (-9.9%), an average of -2.6% a year. The sharpest change came in the year to June 2021, when income rose by 32%. Over the whole period it spent 204% 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 52nd percentile: it is larger than about 52% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 53rd percentile within IL. Charities of a similar size with the same main cause include New Orleans Educational Telecommunications Consortium ($192k), Chabad of Bensonhurst Inc ($192k) and Western States Conference for Pharmacy Residents Fellowships & P ($192k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 98% of the total. Other salaries and wages came to $63k. At year end it held assets of $1.8m against liabilities of $5.8m, net assets of -$4.0m.

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.