Maple Lake Housing Development Corporation

Analysis

Maple Lake Housing Development Corporation is a registered charity in United States, based in Maple Lake, MN. It received its IRS tax-exemption ruling in November 1976, 50 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, Maple Lake Housing Development Corporation reported income of $376k and spending of $376k, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $294k to $376k (+28%), an average of +6.3% a year. Over the whole period it spent 101% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Maple Lake Housing Development Corporation sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 64th percentile within MN. Charities of a similar size with the same main cause include United Hopes Inc ($375k), Northern Lights Alliance for the Homeless Inc ($376k) and Harriets House ($375k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.4% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $42k (11% of expenses). Other salaries and wages came to $17k. At year end it held assets of $703k against liabilities of $770k, net assets of -$67k. It reported 3 employees.