Rural Housing Development Corporation

Analysis

Rural Housing Development Corporation is a registered charity in United States, based in Provo, UT. It received its IRS tax-exemption ruling in July 1999, 27 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 September 2023, Rural Housing Development Corporation reported income of $2.3m and spending of $2.2m, spending 93% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $1.8m to $2.3m (+27%), an average of +6.1% a year. The sharpest change came in the year to September 2020, when income rose by 145%. Over the whole period it spent 63% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Rural Housing Development Corporation sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 85th percentile within UT. Charities of a similar size with the same main cause include Community Housing and Shelter of Stanislaus County ($2.3m), Linden Housing Corporation ($2.3m) and Association for Community Housing Solutions ($2.3m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 24% and program service revenue 0.7% of the total. Compensation of current officers, directors and key employees was $313k (15% of expenses). Other salaries and wages came to $950k. At year end it held assets of $33.5m against liabilities of $15.5m, net assets of $18.0m. It reported 12 employees.