Metro North Housing Corp

Analysis

Metro North Housing Corp is a registered charity in United States, based in Malden, MA. It received its IRS tax-exemption ruling in March 2016, 10 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Metro North Housing Corp reported income of $765k and spending of $514k, leaving 33% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $195k to $765k (+292%), an average of +41% a year. The sharpest change came in the year to September 2020, when income rose by 75%. Over the whole period it spent 94% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Metro North Housing Corp sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 76th percentile within MA. Charities of a similar size with the same main cause include Rochester Monroe County Homeless Continuum of Care Inc ($765k), Moline Ministries 1 Inc ($765k) and Holy Family Home and Shelter Inc ($764k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 79% and program service revenue 21% of the total. Compensation of current officers, directors and key employees was $64k (12% of expenses). At year end it held assets of $5.7m against liabilities of $5.5m, net assets of $187k.