Housing Development Corporation of Salt Lake City

Analysis

Housing Development Corporation of Salt Lake City is a registered charity in United States, based in Salt Lake Cty, UT. It received its IRS tax-exemption ruling in April 1987, 39 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, Housing Development Corporation of Salt Lake City reported income of $1.4m and spending of $1.4m, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $938k to $1.4m (+52%), an average of +11% a year. The sharpest change came in the year to December 2023, when income rose by 38%. Over the whole period it spent 92% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Housing Development Corporation of Salt Lake City sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 82nd percentile within UT. Charities of a similar size with the same main cause include Delaware Highlands Al Services Provider LLC ($1.4m), Inland Empire Resource Center ($1.4m) and Eastern Sierra Community Housing Inc ($1.4m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 83% of the total. Other salaries and wages came to $217k. At year end it held assets of $3.5m against liabilities of $427k, net assets of $3.1m.