Housing Development Corporation

Analysis

Housing Development Corporation is a registered charity in United States, based in Anniston, AL. It received its IRS tax-exemption ruling in September 2020, 6 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 March 2024, Housing Development Corporation reported income of $385k and spending of $94k, leaving 76% of income unspent that year. Across the 5 years on record, from March 2020 to March 2024, income grew from $38k to $385k (+919%), an average of +79% a year. The sharpest change came in the year to March 2024, when income rose by 648%. Over the whole period it spent 54% 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 sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 68th percentile within AL. Charities of a similar size with the same main cause include RVM Bend Housing Corporation ($385k), Kearney Housing Development Corporation ($385k) and Shepherd Oak Apartments Inc ($384k).

On its Form 990 for the period ending March 2024, revenue came from program service revenue 100% of the total. At year end it held assets of $1.3m against liabilities of $51k, net assets of $1.2m.