Development Homes Inc

Analysis

Development Homes Inc is a registered charity in United States, based in Grand Forks, ND. It received its IRS tax-exemption ruling in February 1976, 50 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, Development Homes Inc reported income of $17.9m and spending of $16.4m, spending 92% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $17.1m to $17.9m (+4.7%), an average of +1.5% a year. The sharpest change came in the year to June 2021, when income rose by 17%. Over the whole period it spent 87% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Development Homes Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within ND. Charities of a similar size with the same main cause include Texas Reliability Entity Inc ($17.9m), Nonprofit Insurance Trust ($17.9m) and Lutheran Home-Hickory Inc ($17.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.9% and program service revenue 81% of the total. Compensation of current officers, directors and key employees was $531k (3.2% of expenses). Other salaries and wages came to $10.4m. At year end it held assets of $21.4m against liabilities of $4.9m, net assets of $16.5m. It reported 489 employees.