Raymond Ballard Apartments Housing Development Fund Corporation

Analysis

Raymond Ballard Apartments Housing Development Fund Corporation is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in March 1994, 32 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Raymond Ballard Apartments Housing Development Fund Corporation reported income of $472k and spending of $1.6m, spending 330% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $429k to $472k (+10%), an average of +2.4% a year. The sharpest change came in the year to December 2021, when income rose by 26%. Over the whole period it spent 213% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Raymond Ballard Apartments Housing Development Fund Corporation sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 65th percentile within NY. Charities of a similar size with the same main cause include Winchester Downtown Program ($472k), Aspire Clarksville ($472k) and Junior League of Las Vegas Inc ($472k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $614k against liabilities of $4.9m, net assets of -$4.3m.

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.