Northeast Brooklyn Housing Development Corporation

Analysis

Northeast Brooklyn Housing Development Corporation is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in August 2012, 14 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, Northeast Brooklyn Housing Development Corporation reported income of $3.8m and spending of $2.7m, leaving 29% of income unspent that year. Across the 4 years on record, from December 2019 to December 2022, income grew from $3.6m to $3.8m (+6.3%), an average of +2.1% a year. The sharpest change came in the year to December 2022, when income rose by 62%. Over the whole period it spent 89% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Northeast Brooklyn Housing Development Corporation sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 88th percentile within NY. Charities of a similar size with the same main cause include Queens Bnai Brith Housing Developement Fund Co Inc ($3.8m), Brighton Beach Housing Development Fund Company Inc ($3.8m) and Siena on the Lake Inc ($3.8m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 20% and program service revenue 80% of the total. Compensation of current officers, directors and key employees was $475k (18% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $8.6m against liabilities of $1.5m, net assets of $7.1m. It reported 34 employees.