Mof-Preservation of Affordability Corp

Analysis

Mof-Preservation of Affordability Corp is a registered charity in United States, based in Cordova, TN. It received its IRS tax-exemption ruling in November 2013, 13 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Mof-Preservation of Affordability Corp reported income of $20.2m and spending of $17.2m, spending 85% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $59.7m to $20.2m (-66%), an average of -24% a year. The sharpest change came in the year to December 2023, when income dropped by 66%. Over the whole period it spent 80% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Mof-Preservation of Affordability Corp sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within TN. Charities of a similar size with the same main cause include Leadingage Inc ($20.2m), Peoples Self-Help Housing Corporation ($20.3m) and Arlington Assembly of God Housing Corp ($20.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 48% and program service revenue 51% of the total. Other salaries and wages came to $1.5m. At year end it held assets of $56.4m against liabilities of $55.5m, net assets of $897k.