David Minkin Residence Housing Development Fund Company Inc

Analysis

David Minkin Residence Housing Development Fund Company Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in March 1946, 80 years ago. 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 June 2023, David Minkin Residence Housing Development Fund Company Inc reported income of $1.3m and spending of $1.6m, spending 123% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $1.2m to $1.3m (+7.0%), an average of +2.3% a year. Over the whole period it spent 119% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, David Minkin Residence Housing Development Fund Company Inc sits at the 81st percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 78th percentile within NY. Charities of a similar size with the same main cause include Mertens House Inc ($1.3m), Friedrich Ebert Stiftung Inc ($1.3m) and The Wilson Memorial Hospital Foundation ($1.3m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 99% of the total. At year end it held assets of $5.0m against liabilities of $9.7m, net assets of -$4.6m.

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.