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 $304k and spending of $668k, spending 220% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $478k to $304k (-36%), an average of -11% a year. The sharpest change came in the year to June 2020, when income dropped by 42%. Over the whole period it spent 180% 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 62nd percentile within IL. Charities of a similar size with the same main cause include Minnesota Technology Foundation ($304k), Dunkirk-Fredonia Meals on Wheels Inc ($304k) and Child Care Options Inc ($304k).

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 $71k. At year end it held assets of $2.8m against liabilities of $7.2m, net assets of -$4.4m.

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.