Rosemead Housing Development Corporation

Analysis

Rosemead Housing Development Corporation is a registered charity in United States, based in Rosemead, CA. It received its IRS tax-exemption ruling in June 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Rosemead Housing Development Corporation reported income of $1.0m and spending of $1.2m, spending 120% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $888k to $1.0m (+15%), an average of +3.5% a year. Over the whole period it spent 120% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Rosemead Housing Development Corporation sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 80th percentile within CA. Charities of a similar size with the same main cause include Ryder Home for the Elderly Inc ($1.0m), Helpful Citizens Incorporated ($1.0m) and American Homeowners Association Inc ($1.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 51% and program service revenue 48% of the total. At year end it held assets of $12.1m against liabilities of $5.7m, net assets of $6.4m.

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.