Victory One Housing Development Fund Corporation

Analysis

Victory One Housing Development Fund Corporation is a registered charity in United States, based in Bronx, NY. It received its IRS tax-exemption ruling in June 1995, 31 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, Victory One Housing Development Fund Corporation reported income of $1.9m and spending of $2.2m, spending 112% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.6m to $1.9m (-27%), an average of -7.4% a year. The sharpest change came in the year to December 2020, when income dropped by 50%. Over the whole period it spent 118% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Victory One Housing Development Fund Corporation 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 82nd percentile within NY. Charities of a similar size with the same main cause include Pregnancy Assistance Center North Inc ($1.9m), Noahs Ark-Affordable Housing Inc ($1.9m) and Habitat for Humanity International Inc ($1.9m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 98% of the total. Other salaries and wages came to $246k. At year end it held assets of $3.5m against liabilities of $12.1m, net assets of -$8.5m. It reported 4 employees.

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.