Cypress Homes Housing Development Fund Corporation

Analysis

Cypress Homes Housing Development Fund Corporation is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in December 1999, 27 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 Homes Housing Development Fund Corporation reported income of $116k and spending of $149k, spending 128% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $113k to $116k (+2.8%), an average of +0.7% a year. The sharpest change came in the year to December 2023, when income rose by 21%. Over the whole period it spent 156% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Cypress Homes Housing Development Fund Corporation sits at the 26th percentile: it is larger than about 26% of them. Against every charity in United States with reported income it ranks in the 41st percentile, and in the 40th percentile within NY. Charities of a similar size with the same main cause include United Neighborhood Community Development Corporation ($116k), Home of Refuge Outreach ($116k) and Welcome Home Oregon Inc ($116k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $804k against liabilities of $1.2m, net assets of -$438k.

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.