Miracle Makers of Bed-Stuy Housing Development Fund Company Inc

Analysis

Miracle Makers of Bed-Stuy 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 1993, 33 years ago. 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, Miracle Makers of Bed-Stuy Housing Development Fund Company Inc reported income of $300k and spending of $398k, spending 133% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $299k to $300k (+0.3%), an average of +0.1% a year. Over the whole period it spent 108% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Miracle Makers of Bed-Stuy Housing Development Fund Company Inc sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 58th percentile within NY. Charities of a similar size with the same main cause include Little Georgetown Foundation ($299k), Boulevard Harambee-Building Up Leaders for Village Development ($300k) and Lamar University at Orange Foundation Inc ($299k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $31k (7.8% of expenses). Other salaries and wages came to $72k. At year end it held assets of $2.2m against liabilities of $35k, net assets of $2.1m. It reported 3 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.