Israel Senior Citizens Housing Development Fund Corp

Analysis

Israel Senior Citizens Housing Development Fund Corp is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in April 1967, 59 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 June 2023, Israel Senior Citizens Housing Development Fund Corp reported income of $11.4m and spending of $9.4m, spending 83% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $5.2m to $11.4m (+120%), an average of +22% a year. The sharpest change came in the year to June 2021, when income rose by 59%. 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, Israel Senior Citizens Housing Development Fund Corp sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 94th percentile within NY. Charities of a similar size with the same main cause include Fresno Rescue Mission ($11.4m), Haverland Carter Lifestyle Group ($11.4m) and Pensacola Habitat for Humanity Inc ($11.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.8% and program service revenue 96% of the total. Other salaries and wages came to $1.1m. At year end it held assets of $59.7m against liabilities of $73.0m, net assets of -$13.4m. It reported 54 employees.