Hamilton Housing Development Company Incorporated

Analysis

Hamilton Housing Development Company Incorporated is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in December 1972, 54 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, Hamilton Housing Development Company Incorporated reported income of $182k and spending of $183k, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.5m to $182k (-93%), an average of -48% a year. The sharpest change came in the year to December 2023, when income dropped by 92%. Over the whole period it spent 96% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Hamilton Housing Development Company Incorporated sits at the 35th percentile: it is larger than about 35% of them. Against every charity in United States with reported income it ranks in the 52nd percentile, and in the 49th percentile within NY. Charities of a similar size with the same main cause include Converse-Kokomo Oic Housing Services Inc ($182k), Centerstone Unlimited ($182k) and Horizon Residential Altrnatives Inc ($182k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $35k (19% of expenses). Other salaries and wages came to $106k. At year end it held assets of $1.1m against liabilities of $3.7m, net assets of -$2.6m. 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.