Mhany 1999 Housing Development Fund Corporation

Analysis

Mhany 1999 Housing Development Fund Corporation is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in May 2000, 26 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 1999 Housing Development Fund Corporation reported income of $671k and spending of $744k, spending 111% of what it took in. Across the 6 years on record, from June 2019 to December 2023, income fell from $1.2m to $671k (-45%), an average of -11% a year. The sharpest change came in the year to December 2020, when income rose by 94%. Over the whole period it spent 110% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Mhany 1999 Housing Development Fund Corporation sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 70th percentile within NY. Charities of a similar size with the same main cause include Salisbury Community Development Corporation ($671k), Germantown Home Section 202 Corporation ($672k) and Our Place Nashville ($671k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $2.0m against liabilities of $9.4m, net assets of -$7.4m.