TN Development Corp

Analysis

TN Development Corp is a registered charity in United States, based in Columbia, SC. It received its IRS tax-exemption ruling in November 1994, 32 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, TN Development Corp reported income of $1.7m and spending of $2.1m, spending 120% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $366k to $1.7m (+377%), an average of +48% a year. The sharpest change came in the year to June 2021, when income rose by 1240%. Over the whole period it spent 112% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, TN Development Corp sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 88th percentile within SC. Charities of a similar size with the same main cause include 334-336 Bergen Street Housing Development Fund Corporation ($1.7m), Stewards Inc ($1.7m) and Everglades Housing Trust Inc ($1.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 41% and program service revenue 61% of the total. Other salaries and wages came to $407k. At year end it held assets of $6.8m against liabilities of $4.3m, net assets of $2.5m.