New Smyrna Beach Housing Development Corporation

Analysis

New Smyrna Beach Housing Development Corporation is a registered charity in United States, based in New Smyrna, FL. It received its IRS tax-exemption ruling in May 2018, 8 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 2023, New Smyrna Beach Housing Development Corporation reported income of $116k and spending of $174k, spending 150% of what it took in. Across the 3 years on record, from March 2021 to March 2023, income fell from $713k to $116k (-84%), an average of -60% a year. The sharpest change came in the year to March 2023, when income dropped by 73%. Over the whole period it spent 27% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, New Smyrna Beach Housing Development Corporation sits at the 26th percentile: it is larger than about 26% of them. Against every charity in United States with reported income it ranks in the 41st percentile, and in the 44th percentile within FL. Charities of a similar size with the same main cause include LSS Housing Woodside Inc ($116k), Citywide Supportive Housing Development Fund Corporation ($116k) and Habitat for Humanity International NC ($116k).

On its Form 990 for the period ending March 2023, revenue came from program service revenue 98% of the total. At year end it held assets of $2.0m against liabilities of $306k, net assets of $1.7m. It reported 17 employees.