Quinnipiac Valley Community Development Corporation

Analysis

Quinnipiac Valley Community Development Corporation is a registered charity in United States, based in Wallingford, CT. It received its IRS tax-exemption ruling in January 2020, 6 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 June 2023, Quinnipiac Valley Community Development Corporation reported income of $340k and spending of $321k, spending 94% of its income. Across the 4 years on record, from September 2020 to June 2023, income grew from $238k to $340k (+43%), an average of +13% a year. The sharpest change came in the year to June 2022, when income rose by 27%. Over the whole period it spent 108% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Quinnipiac Valley Community Development Corporation sits at the 49th percentile: it is larger than about 49% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 61st percentile within CT. Charities of a similar size with the same main cause include Innovative Housing Institute Inc ($340k), Prospect Housing Development Fund Corporation ($340k) and Habitat for Humanity International Inc ($340k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 68% and program service revenue 31% of the total. Other salaries and wages came to $51k. At year end it held assets of $1.5m against liabilities of $1.7m, net assets of -$172k.