Bishop John R McGann Senior Housing Development Fund Company Inc

Analysis

Bishop John R McGann Senior Housing Development Fund Company Inc is a registered charity in United States, based in Hicksville, NY. It received its IRS tax-exemption ruling in March 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Bishop John R McGann Senior Housing Development Fund Company Inc reported income of $1.2m and spending of $1.2m, spending 104% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $970k to $1.2m (+22%), an average of +5.0% a year. The sharpest change came in the year to September 2023, when income rose by 21%. Over the whole period it spent 118% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Bishop John R McGann Senior Housing Development Fund Company Inc sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 77th percentile within NY. Charities of a similar size with the same main cause include Cornerstone West Community Development Corporation ($1.2m), Furniture Project Omaha ($1.2m) and Rural Housing for the Elderly ($1.2m).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 95% of the total. Other salaries and wages came to $132k. At year end it held assets of $6.7m against liabilities of $103k, net assets of $6.6m.

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.