Housing Alternatives Development Company

Analysis

Housing Alternatives Development Company is a registered charity in United States, based in Deephaven, MN. It received its IRS tax-exemption ruling in March 1991, 35 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 March 2023, Housing Alternatives Development Company reported income of $6.3m and spending of $6.5m, spending 103% of its income. Across the 5 years on record, from March 2019 to March 2023, income grew from $4.5m to $6.3m (+40%), an average of +8.7% a year. The sharpest change came in the year to March 2022, when income rose by 18%. Over the whole period it spent 103% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Housing Alternatives Development Company sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within MN. Charities of a similar size with the same main cause include Village Community Services ($6.3m), Sacramento Housing Authority Repositioning Program Inc ($6.3m) and Mt Hope Nazarene Retirement Community ($6.2m).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 0.0% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $406k (6.3% of expenses). Other salaries and wages came to $2.6m. At year end it held assets of $20.0m against liabilities of $16.3m, net assets of $3.6m. It reported 303 employees.