Turning Point Housing Development Fund Corporation

Analysis

Turning Point Housing Development Fund Corporation is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in February 1989, 37 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 2022, Turning Point Housing Development Fund Corporation reported income of $1.6m and spending of $1.6m, spending 98% of its income. Across the 4 years on record, from June 2019 to June 2022, income grew from $1.5m to $1.6m (+6.7%), an average of +2.2% a year. Over the whole period it spent 104% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Turning Point Housing Development Fund Corporation 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 81st percentile within NY. Charities of a similar size with the same main cause include Lyngblomsten Apartments Inc ($1.6m), Glad Tidings Community Development Corporation ($1.6m) and Genesis Housing Corporation ($1.6m).

On its Form 990 for the period ending June 2022, revenue came from program service revenue 100% of the total. Other salaries and wages came to $614k. At year end it held assets of $892k against liabilities of $1.3m, net assets of -$375k.