Lynn Housing Authority Development Group Inc

Analysis

Lynn Housing Authority Development Group Inc is a registered charity in United States, based in Lynn, MA. It received its IRS tax-exemption ruling in February 2010, 16 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 December 2023, Lynn Housing Authority Development Group Inc reported income of $650k and spending of $694k, spending 107% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $556k to $650k (+17%), an average of +4.0% a year. The sharpest change came in the year to December 2022, when income rose by 67%. 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, Lynn Housing Authority Development Group Inc sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 74th percentile within MA. Charities of a similar size with the same main cause include Family Promise of Jacksonville Inc ($650k), Woodlawn Senior Housing Inc ($651k) and Chrysalis Lutheran Homes Inc ($650k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% and program service revenue 0.9% of the total. At year end it held assets of $416k against liabilities of $91k, net assets of $325k.