Islips Housing Development Fund Company Inc

Analysis

Islips Housing Development Fund Company Inc is a registered charity in United States, based in Bay Shore, NY. It received its IRS tax-exemption ruling in December 1993, 33 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 2023, Islips Housing Development Fund Company Inc reported income of $1.7m and spending of $1.2m, leaving 26% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.0m to $1.7m (+68%), an average of +14% a year. The sharpest change came in the year to June 2020, when income rose by 63%. Over the whole period it spent 81% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Islips Housing Development Fund Company Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 81st percentile within NY. Charities of a similar size with the same main cause include Southeast Nebraska Affordable Housing Council Inc ($1.7m), Life Plan Humboldt Dba Life Care Humboldt ($1.7m) and Jfa Non-Profit Housing Corporation ($1.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 53% and program service revenue 45% of the total. At year end it held assets of $5.0m against liabilities of $1.3m, net assets of $3.7m.