Clarkstown Middlewood Housing Development Fund Company Inc

Analysis

Clarkstown Middlewood Housing Development Fund Company Inc is a registered charity in United States, based in Suffern, NY. It received its IRS tax-exemption ruling in May 1977, 49 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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, Clarkstown Middlewood Housing Development Fund Company Inc reported income of $2.4m and spending of $7.6m, spending 310% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.1m to $2.4m (+122%), an average of +22% a year. The sharpest change came in the year to December 2022, when income rose by 70%. Over the whole period it spent 221% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Clarkstown Middlewood Housing Development Fund Company Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 84th percentile within NY. Charities of a similar size with the same main cause include Community Lift Corp ($2.4m), Opportunity Alabama Inc ($2.4m) and Secure Rehabilitation and Vocational Enterprises Inc ($2.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 77% and program service revenue 20% of the total. At year end it held assets of $8.2m against liabilities of $16.9m, net assets of -$8.7m.

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.