Phipps Houses

Analysis

Phipps Houses is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in March 1948, 78 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 2022, Phipps Houses reported income of $101.2m and spending of $21.1m, leaving 79% of income unspent that year. Across the 4 years on record, from December 2019 to December 2022, income grew from $29.1m to $101.2m (+248%), an average of +52% a year. The sharpest change came in the year to December 2020, when income rose by 174%. Over the whole period it spent 26% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Phipps Houses sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within NY. Charities of a similar size with the same main cause include Atlantic Housing Foundation Inc ($101.0m), NDC Housing and Economic Development Corporation ($101.5m) and Mercy Housing Inc ($100.5m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 15% and program service revenue 52% of the total. Compensation of current officers, directors and key employees was $3.3m (16% of expenses). Other salaries and wages came to $3.6m. At year end it held assets of $827.2m against liabilities of $38.3m, net assets of $788.9m. It reported 24 employees.