Milford Housing Development Corperation

Analysis

Milford Housing Development Corperation is a registered charity in United States, based in Milford, DE. It received its IRS tax-exemption ruling in April 1979, 47 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, Milford Housing Development Corperation reported income of $10.3m and spending of $11.6m, spending 113% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $14.8m to $10.3m (-30%), an average of -8.7% a year. The sharpest change came in the year to December 2021, when income dropped by 17%. Over the whole period it spent 98% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Milford Housing Development Corperation sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within DE. Charities of a similar size with the same main cause include Glen at Hiland Meadows Inc ($10.3m), Habitat for Humanity International Inc ($10.3m) and Sholom Community Alliance ($10.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 24% and program service revenue 77% of the total. Other salaries and wages came to $3.0m. At year end it held assets of $33.5m against liabilities of $43.6m, net assets of -$10.1m. It reported 21 employees.