Aiken Apartments Housing Development Fund Corporation

Analysis

Aiken Apartments Housing Development Fund Corporation is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in July 2000, 26 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, Aiken Apartments Housing Development Fund Corporation reported income of $292k and spending of $375k, spending 129% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $274k to $292k (+6.3%), an average of +1.5% a year. The sharpest change came in the year to December 2023, when income rose by 42%. Over the whole period it spent 240% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Aiken Apartments Housing Development Fund Corporation sits at the 45th percentile: it is larger than about 45% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 58th percentile within NY. Charities of a similar size with the same main cause include Anthony Adams House ($292k), Lewis Chapel Housing Inc ($292k) and South Windham Housing Corporation ($292k).

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 $251k against liabilities of $4.5m, net assets of -$4.3m.

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.