Newton Housing Development Corp

Analysis

Newton Housing Development Corp is a registered charity in United States, based in Newton, IA. It received its IRS tax-exemption ruling in September 1997, 29 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, Newton Housing Development Corp reported income of $104k and spending of $82k, leaving 21% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $105k to $104k (-1.0%), an average of -0.3% a year. The sharpest change came in the year to December 2022, when income rose by 102%. Over the whole period it spent 71% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Newton Housing Development Corp sits at the 23rd percentile: it is larger than about 23% of them. Against every charity in United States with reported income it ranks in the 38th percentile, and in the 37th percentile within IA. Charities of a similar size with the same main cause include Concerned Citizens Incorporated ($104k), Louisa Muscatine Athletic Booster Club Inc ($104k) and Timber Hills Housing of Tishomingo County Inc ($104k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 88% and program service revenue 0.0% of the total. Compensation of current officers, directors and key employees was $46k (56% of expenses). At year end it held assets of $3.5m against liabilities of $3.2m, net assets of $244k. It reported 1 employees.