Loveland Housing Development Corporation

Analysis

Loveland Housing Development Corporation is a registered charity in United States, based in Loveland, CO. It received its IRS tax-exemption ruling in May 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Loveland Housing Development Corporation reported income of $1.6m and spending of $3.9m, spending 243% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.2m to $1.6m (+35%), an average of +7.8% a year. The sharpest change came in the year to December 2020, when income rose by 51%. Over the whole period it spent 270% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Loveland Housing Development Corporation sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 84th percentile within CO. Charities of a similar size with the same main cause include Life House Womens Shelter ($1.6m), Turning Point Ministries Inc ($1.6m) and Homes for Veterans a NJ Non Profit Corporation ($1.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 28% and program service revenue 57% of the total. At year end it held assets of $10.8m against liabilities of $2.0m, net assets of $8.8m.

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.