Crown Heights Residence for Adults Housing Development Fund Corp

Analysis

Crown Heights Residence for Adults Housing Development Fund Corp is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in April 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 (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 2023, Crown Heights Residence for Adults Housing Development Fund Corp reported income of $604k and spending of $843k, spending 140% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $708k to $604k (-15%), an average of -3.9% a year. The sharpest change came in the year to December 2021, when income dropped by 18%. Over the whole period it spent 127% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Crown Heights Residence for Adults Housing Development Fund Corp sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 69th percentile within NY. Charities of a similar size with the same main cause include Trumbull Housing Development Corporation ($604k), Parklane Apartments Inc ($604k) and Hope Village - Tiny Housing Alternatives Inc ($604k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 25% and program service revenue 75% of the total. Other salaries and wages came to $318k. At year end it held assets of $213k against liabilities of $2.8m, net assets of -$2.6m. It reported 10 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.