129 23rd Street Housing Development Fund Corporation

Analysis

129 23rd Street Housing Development Fund Corporation is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in February 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, 129 23rd Street Housing Development Fund Corporation reported income of $103k and spending of $155k, spending 151% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $81k to $103k (+26%), an average of +8.1% a year. The sharpest change came in the year to June 2022, when income rose by 25%. Over the whole period it spent 151% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, 129 23rd Street Housing Development Fund Corporation sits at the 23rd percentile: it is larger than about 23% of them. Against every charity in United States with reported income it ranks in the 38th percentile, and in the 37th percentile within NY. Charities of a similar size with the same main cause include Warrior Homesteads Inc ($102k), Warwick Manor Housing Inc ($103k) and Providence Mission Homes Inc ($102k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 24% and program service revenue 70% of the total. At year end it held assets of $503k against liabilities of $174k, net assets of $328k.

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.