Commonwealth Multifamly Housing Corporation

Analysis

Commonwealth Multifamly Housing Corporation is a registered charity in United States, based in Temple, TX. It received its IRS tax-exemption ruling in March 2001, 25 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 December 2023, Commonwealth Multifamly Housing Corporation reported income of $16.9m and spending of $21.2m, spending 125% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $7.3m to $16.9m (+130%), an average of +23% a year. The sharpest change came in the year to December 2020, when income rose by 71%. Over the whole period it spent 123% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Commonwealth Multifamly Housing Corporation sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within TX. Charities of a similar size with the same main cause include Alliance Health of Massachusetts Inc ($16.9m), Ho-Chunk Housing and Community Development Agency ($16.9m) and Alliance Health of Southeastern Massachusetts Inc ($16.9m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 91% of the total. At year end it held assets of $110.0m against liabilities of $108.9m, net assets of $1.1m. It reported 7 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.