Milford Housing Development Corp

Milford, DE · EIN 51-0218904 · 501(c)(3) · Publicly supported organization (509(a)(2))
Latest filing: Form 990 for calendar year 2024 (tax year 2024) · View the filing · Correct or respond

Milford Housing Development Corp reported $19.0 million in revenue and $12.0 million in expenses for calendar year 2024. Of every $100 it spent, $82.45 went to program services, $16.55 to management and general costs and $1.00 to fundraising. Its largest source of revenue was contributions and grants: 63.7% of the total. Government grants made up 58.7%. Revenue rose 29% between 2019 and 2024. Source: Form 990, 2024.

Where $100 of spending went

Calendar year 2024 · Form 990, Part IX, line 25 · total expenses $12M

Program services$82.45 $9.9M
Management & general$16.55 $2.0M
Fundraising$1.00 $121K

For context, the median across 933 covered housing & shelter charities: $89.27 programs, $10.73 management, $0.00 fundraising (medians computed separately, so they may not sum to $100).

Where $100 of revenue came from

Calendar year 2024 · Form 990, Part VIII · total revenue $19M

Contributions & grants (non-government)$4.93 $956K
Government grants$57.44 $11M
Program service revenue$36.97 $7.2M
Investment income$0.66 $129K

Other revenue was negative: −$421K. The bar shows the positive sources only.

The 990 scorecard · same measures for every charity, no grades

2024 filing. Median across 933 covered charities in this category, from their latest filings.
Measure	2024	Median
Program services Part IX 25(B) ÷ 25(A)	82.4%	87.5%
Management & general Part IX 25(C) ÷ 25(A)	16.6%	10.5%
Fundraising Part IX 25(D) ÷ 25(A)	1.0%	0.0%
Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h	$0.01	$0.01
Contributions & grants share of revenue Part VIII 1h ÷ 12	63.7%	17.0%
Government grants share of revenue Part VIII 1e ÷ 12	58.7%	1.0%
Program service revenue share Part VIII 2g ÷ 12	37.8%	66.2%
Highest reported compensation Part VII-A, columns D–F	Not reported	$300,863
Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A)	Not reported	1.57%
People paid over $100,000 Part VII, line 2	Not reported	5
Net assets, in months of expenses Part X 33(B) ÷ monthly expenses	-2.9	10.0
Independent voting board members Part VI 1a–1b	10 of 10	100.0%

A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.

What the money paid for, in its own words

2024 · Form 990, Part III · the three largest programs by expense

$9.9M expenses · 100.0% of program spending · revenue $7.2M

To provide and manage 189 low to moderate income housing units subsidized by hud and usda-rd, governed by hud and usda regulations; to provide assistance to individuals under the usda self help housing program; to rehabilitate homes for sale to families of modest means; to provide construction services to entities providing housing to families of modest means; to maintain the financial and compliance records to ensure the families of modest means are receiving the proper benefits

6 years of filings

Form 990, Parts I, VII, IX and X · each row is that year's own filing, linked

RevenueExpenses

Filing	Revenue	Expenses	Programs	Net assets	Top pay
2024 ⓘ	$19M	$12M	82.4%	−$2.9M	—
2023 ⓘ	$10M	$12M	83.2%	−$10M	—
2022 ⓘ	$11M	$11M	81.6%	−$7.9M	—
2021 ⓘ	$10M	$10M	81.4%	−$7.4M	$160,564
2020 ⓘ	$13M	$10M	85.1%	−$6.6M	$160,331
2019 ⓘ	$15M	$14M	89.4%	−$8.1M	$141,232

Governance answers, as filed

2024 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means

Voting board members, and how many are independent Part VI, lines 1a–1b10 · 10 independent
Audited financial statements Part XII 2bYes
Conflict-of-interest policy Part VI 12aYes
Whistleblower policy Part VI 13Yes
Document retention policy Part VI 14Yes
Independent process for top executive pay Part VI 15aYes
Board given the 990 before filing Part VI 11aNo
Family or business ties among insiders Part VI 2No
Aware of a significant diversion of assets Part VI 5No
Excess benefit transaction with an insider Part IV 25aNo
Loans to or from insiders outstanding Part IV 26No
Lobbying, or a 501(h) election in effect Part IV 4No
Over $15,000 of professional fundraising services Part IV 18No
Over $10,000 of activity outside the U.S. Part IV 14bNo
Employees Part I, line 521
Volunteers Part I, line 6111

Private foundation grants it received

5 private foundations reported grants to Milford Housing Development Corp totaling $85,063 on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.

Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.

Correct a figure or respond

Every number above is copied from Milford Housing Development Corp's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Milford Housing Development Corp, you can publish a response that is linked from this page.

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Similar-sized charities in this cause

Carondelet Village
Roseville, MN · revenue $19M · programs 86.2% · FY2025
Indianapolis Sr CARE Llc
Brookhaven, GA · revenue $19M · programs 87.3% · 2024
Abe's Garden
Nashville, TN · revenue $19M · programs 80.3% · 2024
Community Housing Partnership
San Francisco, CA · revenue $19M · programs 88.8% · 2024
Housing Plus Solutions
Brooklyn, NY · revenue $19M · programs 88.8% · FY2025

All housing & shelter charities · Largest charities in Delaware

Questions people ask

How much of Milford Housing Development Corp's spending goes to programs?

In calendar year 2024, Milford Housing Development Corp reported that 82.4% of its $12.0 million in expenses went to program services, 16.6% to management and general and 1.0% to fundraising (Form 990, Part IX).

Where does Milford Housing Development Corp get its money?

Of $19.0 million in revenue in calendar year 2024, 63.7% came from contributions and grants (including 58.7% from government grants) and 37.8% from program service revenue (Form 990, Part VIII).

Is Milford Housing Development Corp a registered charity?

The IRS lists EIN 51-0218904 as a 501(c)(3) organization (publicly supported organization (509(a)(2))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.

Sources

2024: Form 990 for calendar year 2024, object 202543109349301629 · read the filing · XML
2023: Form 990 for calendar year 2023, object 202441929349300224 · read the filing
2022: Form 990 for calendar year 2022, object 202301729349300345 · read the filing
2021: Form 990 for calendar year 2021, object 202221949349300307 · read the filing
2020: Form 990 for calendar year 2020, object 202142009349300429 · read the filing
2019: Form 990 for calendar year 2019, object 202012599349301616 · read the filing

All filings for EIN 51-0218904: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.