Urban Ministry Housing Development Corp

Analysis

Urban Ministry Housing Development Corp is a registered charity in United States, based in Norfolk, VA. It received its IRS tax-exemption ruling in August 1982, 44 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 December 2023, Urban Ministry Housing Development Corp reported income of $762k and spending of $837k, spending 110% of what it took in. Across the 6 years on record, from September 2019 to December 2023, income fell from $1.3m to $762k (-42%), an average of -10% a year. The sharpest change came in the year to December 2023, when income dropped by 35%. Over the whole period it spent 96% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Urban Ministry Housing Development Corp sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 76th percentile within VA. Charities of a similar size with the same main cause include Dominican Center for Women Inc ($762k), Salina Emergency Aid-Food Bank Inc ($762k) and Leadership Women Inc ($762k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. Other salaries and wages came to $159k. At year end it held assets of $5.9m against liabilities of $6.1m, net assets of -$159k. It reported 12 employees.