50th Street Housing Development Fund Corporation

Analysis

50th Street Housing Development Fund Corporation is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in August 1996, 30 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, 50th Street Housing Development Fund Corporation reported income of $475k and spending of $523k, spending 110% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $499k to $475k (-4.9%), an average of -1.2% a year. Over the whole period it spent 101% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, 50th Street Housing Development Fund Corporation sits at the 56th percentile: it is larger than about 56% 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 Epsom Elderly Housing Inc ($474k), Elders Lodge Corporation ($475k) and Bay Homes Development Corp ($474k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. At year end it held assets of $6.4m against liabilities of $7.1m, net assets of -$773k.