Housing Development Corporation of Hampton Roads

Analysis

Housing Development Corporation of Hampton Roads is a registered charity in United States, based in Newport News, VA. It received its IRS tax-exemption ruling in December 2006, 20 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 June 2023, Housing Development Corporation of Hampton Roads reported income of $448k and spending of $316k, leaving 29% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income grew from $333k to $448k (+35%), an average of +10% a year. The sharpest change came in the year to June 2023, when income rose by 32%. Over the whole period it spent 78% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Housing Development Corporation of Hampton Roads sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 68th percentile within VA. Charities of a similar size with the same main cause include Dekalb Senior Housing Inc ($448k), Skyline Recovery ($448k) and Plympton Elderly Housing Corp ($448k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 37% and program service revenue 63% of the total. At year end it held assets of $1.9m against liabilities of $1.1m, net assets of $758k.