Norman Affordable Housing Corporation

Analysis

Norman Affordable Housing Corporation is a registered charity in United States, based in Norman, OK. It received its IRS tax-exemption ruling in October 2000, 26 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Norman Affordable Housing Corporation reported income of $2.2m and spending of $1.2m, leaving 45% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income grew from $373k to $2.2m (+489%), an average of +81% a year. The sharpest change came in the year to June 2022, when income rose by 182%. Over the whole period it spent 60% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Norman Affordable Housing Corporation sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 88th percentile within OK. Charities of a similar size with the same main cause include LGBTQ Senior Housing Inc ($2.2m), Assist Inc ($2.2m) and Affordable Housing Connections ($2.2m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 99% of the total. Other salaries and wages came to $209k. At year end it held assets of $5.8m against liabilities of $246k, net assets of $5.6m.