Mhany 1999 II Housing Development Fund Corp

Analysis

Mhany 1999 II Housing Development Fund Corp is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in April 2001, 25 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, Mhany 1999 II Housing Development Fund Corp reported income of $2.1m and spending of $1.6m, leaving 22% of income unspent that year. Across the 6 years on record, from June 2019 to December 2023, income grew from $1.7m to $2.1m (+20%), an average of +3.8% a year. The sharpest change came in the year to December 2020, when income rose by 105%. Over the whole period it spent 85% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Mhany 1999 II Housing Development Fund Corp sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 83rd percentile within NY. Charities of a similar size with the same main cause include Pontchartrain Housing Corp II ($2.1m), Justice Housing Inc ($2.1m) and Parkview Village Christian Care Inc ($2.1m).

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 $11.9m against liabilities of $3.3m, net assets of $8.5m.