Montebello Housing Development Corporation

Analysis

Montebello Housing Development Corporation is a registered charity in United States, based in Montebello, CA. It received its IRS tax-exemption ruling in November 1992, 34 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, Montebello Housing Development Corporation reported income of $668k and spending of $570k, spending 85% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $217k to $668k (+208%), an average of +32% a year. The sharpest change came in the year to June 2020, when income rose by 230%. Over the whole period it spent 83% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Montebello Housing Development Corporation sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 76th percentile within CA. Charities of a similar size with the same main cause include Disciples Housing of Tacoma Washington ($668k), Baptist Housing Inc ($668k) and Nela Housing and Supportive Services Corporation ($667k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 42% and program service revenue 19% of the total. Other salaries and wages came to $228k. At year end it held assets of $8.0m against liabilities of $2.2m, net assets of $5.8m. It reported 6 employees.