Farmingdale Housing Development Fund Company Inc

Analysis

Farmingdale Housing Development Fund Company Inc is a registered charity in United States, based in Hempstead, NY. It received its IRS tax-exemption ruling in August 1983, 43 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, Farmingdale Housing Development Fund Company Inc reported income of $1.6m and spending of $785k, leaving 51% of income unspent that year. Across the 4 years on record, from September 2020 to September 2023, income grew from $603k to $1.6m (+164%), an average of +38% a year. The sharpest change came in the year to September 2021, when income rose by 116%. Over the whole period it spent 46% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Farmingdale Housing Development Fund Company Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 80th percentile within NY. Charities of a similar size with the same main cause include Corporacion Desarrollo Economico de Salud Y Vivienda ($1.6m), Phoenix Transitional Housing Plus ($1.6m) and Pennsylvania Interfaith Community Programs Inc ($1.6m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 76% and program service revenue 19% of the total. At year end it held assets of $4.0m against liabilities of $775k, net assets of $3.3m.