Clarence J Nell Apartments Housing Development Fund Corporation

Analysis

Clarence J Nell Apartments Housing Development Fund Corporation is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in January 1995, 31 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, Clarence J Nell Apartments Housing Development Fund Corporation reported income of $273k and spending of $303k, spending 111% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $230k to $273k (+18%), an average of +4.3% a year. The sharpest change came in the year to December 2021, when income rose by 26%. Over the whole period it spent 116% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Clarence J Nell Apartments Housing Development Fund Corporation sits at the 44th percentile: it is larger than about 44% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 57th percentile within NY. Charities of a similar size with the same main cause include Helping Hands-Interfaith Coalitionfor the Homeless of Rockland County ($273k), Recovery House 12 Steps Inc ($273k) and N Vision Communities Inc ($272k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 98% of the total. At year end it held assets of $361k against liabilities of $1.1m, net assets of -$772k.