Project Home Development Corporation

Analysis

Project Home Development Corporation is a registered charity in United States, based in Madison, WI. It received its IRS tax-exemption ruling in July 2014, 12 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, Project Home Development Corporation reported income of $598k and spending of $528k, spending 88% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $384k to $598k (+56%), an average of +12% a year. The sharpest change came in the year to December 2023, when income rose by 45%. Over the whole period it spent 104% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Project Home Development Corporation sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 73rd percentile within WI. Charities of a similar size with the same main cause include Orrvilla Manor I Inc ($597k), Kissimmee Oaks Housing I Inc ($598k) and Open Doors Louisiana Inc ($597k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 35% and program service revenue 65% of the total. At year end it held assets of $2.2m against liabilities of $3.5m, net assets of -$1.3m.