Martin Luther King Housing Development Association

Analysis

Martin Luther King Housing Development Association is a registered charity in United States, based in Tacoma, WA. It received its IRS tax-exemption ruling in January 1989, 37 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 June 2024, Martin Luther King Housing Development Association reported income of $307k and spending of $457k, spending 149% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income fell from $308k to $307k (-0.4%), an average of -0.1% a year. Over the whole period it spent 133% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Martin Luther King Housing Development Association sits at the 47th percentile: it is larger than about 46% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 60th percentile within WA. Charities of a similar size with the same main cause include Neighborhood Housing Services of Jamaica Inc ($307k), WS Housing Development Fund Company Inc ($307k) and Tyr Development Co ($307k).

On its Form 990 for the period ending June 2024, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $169k (37% of expenses). At year end it held assets of $2.2m against liabilities of $2.7m, net assets of -$554k. It reported 2 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.