Cypress West Housing Development Fund Corporation

Analysis

Cypress West Housing Development Fund Corporation is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in May 1997, 29 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, Cypress West Housing Development Fund Corporation reported income of $411k and spending of $498k, spending 121% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $396k to $411k (+3.7%), an average of +0.9% a year. Over the whole period it spent 126% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Cypress West Housing Development Fund Corporation sits at the 53rd percentile: it is larger than about 53% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 63rd percentile within NY. Charities of a similar size with the same main cause include Ahepa 156 Inc ($411k), Carver Apartment Inc ($411k) and Mother Theodore Corporation III ($411k).

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 $1.7m against liabilities of $2.9m, net assets of -$1.2m.

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.