St Theresa of Avila Senior Housing Development Fund Corporation

Analysis

St Theresa of Avila Senior Housing Development Fund Corporation is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in March 1946, 80 years ago. 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, St Theresa of Avila Senior Housing Development Fund Corporation reported income of $1.0m and spending of $1.2m, spending 114% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $863k to $1.0m (+21%), an average of +6.5% a year. Over the whole period it spent 121% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, St Theresa of Avila Senior Housing Development Fund Corporation sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 76th percentile within NY. Charities of a similar size with the same main cause include New Haven Ballet Inc ($1.0m), Laguna Beach Seniors Inc ($1.0m) and World Affairs Council of Jacksonville ($1.0m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 99% of the total. At year end it held assets of $5.7m against liabilities of $9.2m, net assets of -$3.5m.

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.