Texas State Affordable Housing Corporation

Analysis

Texas State Affordable Housing Corporation is a registered charity in United States, based in Austin, TX. It received its IRS tax-exemption ruling in December 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, Texas State Affordable Housing Corporation reported income of $88.1m and spending of $35.0m, leaving 60% of income unspent that year. Across the 5 years on record, from August 2019 to August 2023, income grew from $11.7m to $88.1m (+656%), an average of +66% a year. The sharpest change came in the year to August 2020, when income rose by 299%. Over the whole period it spent 18% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Texas State Affordable Housing Corporation sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within TX. Charities of a similar size with the same main cause include Aspire of Western New York Inc ($84.6m), Maris Grove Inc ($89.4m) and Linden Ponds Inc ($79.1m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 1.4% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $1.2m (3.6% of expenses). Other salaries and wages came to $2.3m. At year end it held assets of $440.7m against liabilities of $85.5m, net assets of $355.2m. It reported 32 employees.