Cabrini Housing Development Fund Corporation

Analysis

Cabrini Housing Development Fund Corporation is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in March 1946, 80 years ago. 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 December 2023, Cabrini Housing Development Fund Corporation reported income of $933k and spending of $1.2m, spending 126% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $819k to $933k (+14%), an average of +3.3% a year. Over the whole period it spent 128% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Cabrini Housing Development Fund Corporation sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 74th percentile within NY. Charities of a similar size with the same main cause include McCurdy School of Northern New Mexico ($933k), Serviam Girls Academy Inc ($933k) and Friends of the Pima County Public Library Inc ($932k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 72% and program service revenue 26% of the total. At year end it held assets of $11.4m against liabilities of $12.2m, net assets of -$813k.

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.