Housing Development Fund Inc

Analysis

Housing Development Fund Inc is a registered charity in United States, based in Stamford, CT. It received its IRS tax-exemption ruling in November 2003, 23 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, Housing Development Fund Inc reported income of $3.4m and spending of $3.3m, spending 99% of its income. Across the 4 years on record, from June 2020 to June 2023, income fell from $3.5m to $3.4m (-4.7%), an average of -1.6% a year. The sharpest change came in the year to June 2021, when income rose by 135%. Over the whole period it spent 68% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Housing Development Fund Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 88th percentile within CT. Charities of a similar size with the same main cause include House of Freedom Inc ($3.4m), Newspirit Village ($3.4m) and Syracuse Model Neighborhood Corp ($3.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 26% and program service revenue 65% of the total. Compensation of current officers, directors and key employees was $574k (17% of expenses). Other salaries and wages came to $1.2m. At year end it held assets of $51.0m against liabilities of $22.8m, net assets of $28.2m. It reported 27 employees.