Allen Affordable Housing Development Fund Corp

Analysis

Allen Affordable Housing Development Fund Corp is a registered charity in United States, based in Jamaica, NY. It received its IRS tax-exemption ruling in September 2000, 26 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, Allen Affordable Housing Development Fund Corp reported income of $283k and spending of $303k, spending 107% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $256k to $283k (+10%), an average of +2.5% a year. Over the whole period it spent 112% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Allen Affordable Housing Development Fund Corp sits at the 45th percentile: it is larger than about 45% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 57th percentile within NY. Charities of a similar size with the same main cause include Marian House Manor Inc ($283k), Richard S Lieb Senior Apartments Inc ($283k) and Warriors Center for Women Hardeman County ($283k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 20% and program service revenue 80% of the total. Other salaries and wages came to $38k. At year end it held assets of $1.5m against liabilities of $2.3m, net assets of -$780k. It reported 1 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.