Horizon Development Properties Inc

Analysis

Horizon Development Properties Inc is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in October 2001, 25 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, Horizon Development Properties Inc reported income of $77.5m and spending of $71.9m, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $38.8m to $77.5m (+100%), an average of +19% a year. The sharpest change came in the year to December 2023, when income rose by 57%. Over the whole period it spent 110% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Horizon Development Properties Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within NC. Charities of a similar size with the same main cause include Corporation for Supportive Housing ($75.3m), National Campus and Community Development Corporation Inc ($78.1m) and NHP Foundation ($74.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 35% and program service revenue 60% of the total. Other salaries and wages came to $4.7m. At year end it held assets of $565.6m against liabilities of $464.8m, net assets of $100.8m.