Carpenter Housing Development Fund Co Inc

Analysis

Carpenter Housing Development Fund Co Inc is a registered charity in United States, based in Syracuse, NY. It received its IRS tax-exemption ruling in April 1997, 29 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 September 2023, Carpenter Housing Development Fund Co Inc reported income of $342k and spending of $353k, spending 103% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $303k to $342k (+13%), an average of +3.1% a year. Over the whole period it spent 112% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Carpenter Housing Development Fund Co Inc sits at the 49th percentile: it is larger than about 49% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 60th percentile within NY. Charities of a similar size with the same main cause include Octavia Court Inc ($342k), Elmore Area Concerned Christians ($342k) and Rebuilding Together Hartford Inc ($342k).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 97% of the total. Other salaries and wages came to $97k. At year end it held assets of $1.5m against liabilities of $2.6m, net assets of -$1.2m.

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.