Breaking Ground Housing Development Fund Corporation

Analysis

Breaking Ground Housing Development Fund Corporation is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in March 1991, 35 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 December 2023, Breaking Ground Housing Development Fund Corporation reported income of $31.6m and spending of $27.6m, spending 87% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $21.1m to $31.6m (+50%), an average of +11% a year. The sharpest change came in the year to December 2020, when income rose by 19%. Over the whole period it spent 71% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Breaking Ground Housing Development Fund Corporation sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 97th percentile within NY. Charities of a similar size with the same main cause include Resurrection Project ($31.4m), Millennium Housing Corporation ($31.7m) and Crossroads Housing Development Corporation ($31.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 52% and program service revenue 43% of the total. Other salaries and wages came to $9.7m. At year end it held assets of $214.8m against liabilities of $67.9m, net assets of $146.9m.