Southside United Housing Development Fund Corporation

Analysis

Southside United Housing Development Fund Corporation is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in August 1973, 53 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, Southside United Housing Development Fund Corporation reported income of $6.0m and spending of $5.9m, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.8m to $6.0m (+24%), an average of +5.6% a year. Over the whole period it spent 90% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Southside United Housing Development Fund Corporation sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 91st percentile within NY. Charities of a similar size with the same main cause include Hebrew Home Housing Development Fund Co Inc ($6.0m), Centro Campesino Farmworker ($6.0m) and Kings Tulare Continuum of Care on Homelessness ($6.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 66% and program service revenue 26% of the total. Compensation of current officers, directors and key employees was $381k (6.5% of expenses). Other salaries and wages came to $2.9m. At year end it held assets of $14.4m against liabilities of $2.3m, net assets of $12.2m. It reported 64 employees.