MRC Housing Development Fund Company Inc

Analysis

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

In the financial year ending December 2023, MRC Housing Development Fund Company Inc reported income of $929k and spending of $1.1m, spending 114% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $821k to $929k (+13%), an average of +3.1% a year. Over the whole period it spent 105% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, MRC Housing Development Fund Company Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 74th percentile within NY. Charities of a similar size with the same main cause include Gap Community Center ($929k), Corporacion Para El Desarrollo de LA Vivienda de Bayamon CD ($929k) and Association of Alaska Housing Authorities ($928k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $114k. At year end it held assets of $1.8m against liabilities of $5.1m, net assets of -$3.3m.