Mhany 2005 Housing Development Fund Corporation

Analysis

Mhany 2005 Housing Development Fund Corporation is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in June 2005, 21 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 December 2023, Mhany 2005 Housing Development Fund Corporation reported income of $548k and spending of $844k, spending 154% of what it took in. Across the 6 years on record, from June 2019 to December 2023, income grew from $539k to $548k (+1.6%), an average of +0.3% a year. The sharpest change came in the year to December 2020, when income rose by 104%. Over the whole period it spent 139% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Mhany 2005 Housing Development Fund Corporation sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 68th percentile within NY. Charities of a similar size with the same main cause include Village Oduduwa Corporation of Marin City ($548k), North Hill Apartments Inc ($548k) and Child Network ($547k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.6% and program service revenue 96% of the total. At year end it held assets of $6.2m against liabilities of $9.0m, net assets of -$2.8m.

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.