Avenue Community Development Coporation

Analysis

Avenue Community Development Coporation is a registered charity in United States, based in Houston, TX. It received its IRS tax-exemption ruling in January 1993, 33 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 December 2023, Avenue Community Development Coporation reported income of $11.0m and spending of $13.9m, spending 127% of what it took in. Across the 6 years on record, from December 2018 to December 2023, income grew from $8.6m to $11.0m (+28%), an average of +5.0% a year. The sharpest change came in the year to December 2019, when income rose by 121%. Over the whole period it spent 100% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Avenue Community Development Coporation sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 97th percentile within TX. Charities of a similar size with the same main cause include Isles Inc ($11.0m), Glenmeadow Inc ($11.0m) and Olneyville Housing Corp ($10.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 29% and program service revenue 71% of the total. Compensation of current officers, directors and key employees was $676k (4.9% of expenses). Other salaries and wages came to $2.8m. At year end it held assets of $87.2m against liabilities of $64.4m, net assets of $22.8m. It reported 29 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.