Wartburg Housing Development Fund Corporation

Analysis

Wartburg Housing Development Fund Corporation is a registered charity in United States, based in Scarsdale, NY. It received its IRS tax-exemption ruling in June 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, Wartburg Housing Development Fund Corporation reported income of $1.5m and spending of $1.7m, spending 113% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.4m to $1.5m (+8.7%), an average of +2.1% a year. The sharpest change came in the year to December 2020, when income rose by 27%. Over the whole period it spent 102% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Wartburg Housing Development Fund Corporation sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 80th percentile within NY. Charities of a similar size with the same main cause include Preservation Housing Trust ($1.5m), Kenmore Housing Development Fund Corporation ($1.5m) and Grace Episcopal Church Jamaica Senior Citizens Housing ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. Other salaries and wages came to $232k. At year end it held assets of $2.2m against liabilities of $3.3m, net assets of -$1.0m. It reported 4 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.