Berean Housing Development Fund Company Inc

Analysis

Berean Housing Development Fund Company Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in February 1994, 32 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 2022, Berean Housing Development Fund Company Inc reported income of $1.1m and spending of $1.3m, spending 112% of what it took in. Across the 4 years on record, from September 2019 to September 2022, income fell from $1.4m to $1.1m (-17%), an average of -6.0% a year. Over the whole period it spent 97% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Berean Housing Development Fund Company Inc sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 77th percentile within NY. Charities of a similar size with the same main cause include Tolton Senior Housing Corporation ($1.1m), Lakeside Gardens Inc ($1.1m) and Monsignor Neagle Apartments Inc ($1.1m).

On its Form 990 for the period ending September 2022, revenue came from program service revenue 100% of the total. Other salaries and wages came to $152k. At year end it held assets of $2.9m against liabilities of $7.2m, net assets of -$4.3m. It reported 6 employees.