Metropolitan Housing Development Corporation

Analysis

Metropolitan Housing Development Corporation is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in April 1995, 31 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 December 2023, Metropolitan Housing Development Corporation reported income of $2.3m and spending of $2.3m, spending 98% of its income. Across the 6 years on record, from December 2017 to December 2023, income grew from $2.1m to $2.3m (+9.8%), an average of +1.9% a year. Over the whole period it spent 99% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Metropolitan Housing Development Corporation sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 87th percentile within IL. Charities of a similar size with the same main cause include Mountain Family Center ($2.3m), Innovative Industries ($2.3m) and Operating Engineers Apprshp & Skill Improvement Committee for Cent Il ($2.3m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $625k. At year end it held assets of $5.1m against liabilities of $4.8m, net assets of $274k.