Alexandria Housing Development Corporation

Analysis

Alexandria Housing Development Corporation is a registered charity in United States, based in Alexandria, VA. It received its IRS tax-exemption ruling in August 2007, 19 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, Alexandria Housing Development Corporation reported income of $14.1m and spending of $19.1m, spending 135% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.6m to $14.1m (+291%), an average of +41% a year. The sharpest change came in the year to December 2020, when income rose by 179%. Over the whole period it spent 132% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Alexandria Housing Development Corporation sits at the 97th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within VA. Charities of a similar size with the same main cause include Housing Assistance Council ($14.1m), Downtown Rescue Mission Inc ($14.2m) and New Community Corporation ($14.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 7.1% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $643k (3.4% of expenses). Other salaries and wages came to $2.0m. At year end it held assets of $211.6m against liabilities of $216.6m, net assets of -$5.0m. It reported 17 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.